Krystal, a Singapore-based multi-chain platform to entry decentralized finance (DeFi) providers, raised $6.6M in seed funding.
The spherical was led by Hashed, with participation from Crypto.com, Signum Capital, BlockTower, HyperChain, Arrington Capital, LD Capital, DeFi Alliance, ArkStream Capital, Coin98, and some angel buyers.
Led by Sunny Jain (CEO), Krystal was initially incubated at Kyber Network and has since developed right into a ‘one-stop store’ platform for customers to work together with totally different DeFi protocols on a number of blockchains. It has already built-in widespread decentralized trade (DEX) protocols reminiscent of KyberDMM, Uniswap (V2 & V3), SushiSwap, PancakeSwap (V1 & V2) and QuickSwap to supply handy buying and selling entry to over 40,000 tokens for its 1000’s of customers.Other key options that may be loved straight inside the platform embrace incomes curiosity by interacting with Aave (V1 & V2), Compound & Venus Protocol, portfolio administration, market insights, and a referral program with bonus incentives. Krystal presently helps Ethereum, Binance Smart Chain and Polygon, with plans to shortly increase to different networks/chains reminiscent of Solana, Polkadot and Cronos.The firm will use the funds to increase the staff and speed up the product roadmap to empower customers to higher handle their portfolio throughout a number of DeFi providers. Its quick priorities embrace NFTs, including extra blockchains and bettering entry to passive revenue by permitting customers to securely do staking, handle liquidity swimming pools and yield farming.