The DeFi project DeFi.app has completed a $2 million seed round financing, led by Mechanism Capital

ChainCatcher news, according to The Block, the DeFi project DeFi.app has completed a $2 million seed round financing, with a valuation of $100 million. This round of financing was led by Mechanism Capital, with participation from Selini Capital, North Rock Digital, and about 50 angel investors. The financing was completed through a Simple Agreement for Future Tokens (SAFT) structure, reflecting the fully diluted valuation of DeFi.app's yet-to-be-launched native token HOME.

DeFi.app aims to be the Robinhood of the DeFi space, dedicated to simplifying decentralized financial transactions while maintaining self-custody of assets. Users can perform one-click cross-chain transactions, access decentralized derivatives markets and yield opportunities, and are exempt from Gas fees, without the need for bridging or KYC verification.

Founder Greer revealed that the platform's public beta will launch this month, with the mainnet and HOME token expected to be released in the first half of next year. Additionally, DeFi.app plans to conduct a token airdrop and expand its team size.