CDS Startups Ondefy Raises $1 Million
Startups

Ondefy Raises $1 Million

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To Support Defi Adoption, Ondefy Raises $1 Million

Ondefy has raised $1 million in funding to make decentralized finance easily accessible to everyone.

Companies and Individuals Involved in the Investment Round

Many companies and famous names in the blockchain world participated in the funding round for Ondefy. You can see some of these names in the list below:

  • YellowSpoon
  • AngelDao
  • Stake Capital
  • White Loop Capital
  • Tenzor Capital
  • Cryptoast
  • HyperGrowth
  • Joseph Young
  • Julien Bouteloup
  • Owen Simonin
  • Jay Kurahashi-Sofue

The Ondefy team wants to create a world where blockchain and its applications will be as easy as using the internet. In this direction, the company has managed to get the support of many investors.

What is Ondefy?

Gauthier Vila launched Ondefy in 2021 to overcome the issues preventing the adoption of decentralized finance. He was a DeFi early adopter who found that it was far too complicated for retail people to get the tokens that were only available on decentralized exchanges. He saw this as a barrier to consumers using DeFi because they often enter the market by purchasing a small-cap on-chain token. That’s why the platform has made it its mission to break down this barrier and make it easy for people to access DeFi.

Ondefy has built itself on two main features. These are the Fiat-to-Any Token and the DeFi Marketplace. Easy onboarding to any token with fiat is made possible by Fiat-to-Any Token. On the other hand, DeFi Marketplace is a condensed version of the DeFi Meta Aggregator designed for retail users. You might think of this as a DeFi Marketplace where they unite various protocols for novice users.

How Will the Funding be Used?

The funding will mostly utilize to expand their workforce and forward the roadmap. They are currently working on the idea of enhancing user experience and introducing new chains to the “Fiat-to-any token” capability. Additionally, they are collaborating with many other projects to give their community easy access to their coin using fiat.

References

www.medium.com

Written by
lectertodd

Lectertodd is 25 years old. She graduated from Çankaya University, Department of Psychology, in 2021. She actively works as a writer, translator, and editor for various websites. Moreover, she loves reading, researching, and learning new things.

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