Krystal Raises $6.6M to Build Multi-Chain DeFi Management Platform

Krystal, a multi-chain platform to simply entry fashionable decentralized finance (DeFi) providers, has raised $6.6M in seed funding.Singapore, Aug. 04, 2021 (GLOBE NEWSWIRE) — The spherical was led by Hashed, with additional backing from Crypto.com, Signum Capital, BlockTower, HyperChain, Arrington Capital, LD Capital, DeFi Alliance, ArkStream Capital, Coin98, and some angel buyers.Krystal was initially incubated at Kyber Network and has since developed right into a ‘one-stop store’ platform for customers to work together with completely different DeFi protocols on a number of blockchains.By consolidating one of the best DeFi providers on a easy consumer interface, Krystal saves customers time, cash and energy.Krystal has already built-in fashionable decentralized change (DEX) protocols similar to KyberDMM, Uniswap (V2 & V3), SushiSwap, PancakeSwap (V1 & V2) and QuickSwap to present handy buying and selling entry to over 40,000 tokens for its 1000’s of customers.Other key options that may be loved instantly inside the Krystal platform embody incomes curiosity by interacting with Aave (V1 & V2), Compound & Venus Protocol, hassle-free 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 similar to Solana, Polkadot and Cronos. “In the brief span since Krystal’s launch, the seamless aggregation of a number of DeFi providers, similar to token swaps, incomes curiosity and portfolio administration, has already confirmed to be an incredible asset for brand spanking new DeFi customers and veterans alike. We’re excited to see what new product developments they are going to ship to enhance usability on varied blockchains,” stated Simon Kim (CEO & Managing Partner, Hashed).“Krystal goals to be THE go-to platform for on a regular basis customers to work together with DeFi. By integrating a number of protocols on our easy and intuitive platform, customers not have to navigate between a number of tabs and complicated UX. This simplified DeFi expertise reduces fragmentation and saves customers time, cash and energy,” shares Sunny Jain (CEO, Krystal), about Krystal’s imaginative and prescient. Krystal will use the newly acquired funds to increase our workforce and speed up our product roadmap to empower customers to higher handle their portfolio throughout a number of DeFi providers. Our rapid priorities embody NFTs, including extra blockchains and bettering entry to passive revenue by permitting customers to securely do staking, handle liquidity swimming pools and yield farming. Krystal goals to stay non-custodial to make modern & clear monetary providers extra accessible globally. Users will all the time retain management over their funds and personal keys. Users can entry Krystal on its cellular app (iOS & Android) and Desktop Web. About Krystal:Krystal is a multi-chain platform to simplify entry to fashionable decentralized finance (DeFi) providers. To simplify a consumer’s DeFi expertise, Krystal has constructed an intuitive consumer interface that acts a single level of entry to transact with a number of protocols similar to KyberDMM, Uniswap, Aave, Compound, Venus Protocol, PancakeSwap, SushiSwap, QuickSwap and Kyber Network. Krystal goals to be each consumer’s go-to venue for swapping tokens, incomes passive revenue, portfolio administration and market insights. Topping it off, Krystal’s one-of-a-kind rewards program earns customers bonus incentives once they commerce or efficiently refer mates. Since its launch in April 2021, Krystal has attracted 1000’s of customers from over 87 international locations. Krystal presently helps DeFi providers on Ethereum mainnet, Binance Smart Chain and Polygon chain. It will quickly increase to different networks similar to Solana, Polkadot and Cronos to cater to extra customers. To study extra, go to www.krystal.app. Media Contact:Felicia [email protected]

https://finance.yahoo.com/news/krystal-raises-6-6m-build-185500803.html

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