DeFi startup RAI Finance secured $1.5M by Global Crypto Funds
RAI Finance, a South Korea based blockchain-based decentralized finance (DeFi) protocol, has now secured $1.5 million in funding.
RAI Finance is a project founded by Lee Keonho. The company seeks to build a DeFi ecosystem with a high amount of liquidity and a diverse set of financial use cases by integrating with the Polkadot ecosystem. Rai Finance along with Polkadot's cross-chain compatibility can solve problems in building DeFi-based digital assets and liquidity in DeFi space, notes the announcement.
Executive Opinion
Lee Keonho, CEO of Rai Finance, said, "We are pleased to attract strategic investment from global crypto funds ahead of the launch of Rai Finance. We will strive to complement and further develop the existing distributed financial ecosystem through Rai Finance."
RAI Finance's Latest Funding
Polkadot is the next-gen blockchain protocol connecting multiple specialized blockchains into one unified network. According to Polkadot's light paper, the blockchain protocol offers many benefits such as heterogeneous sharding, scalability, upgradeability, transparent governance, and cross-chain composability.
The round was backed by the crypto funds such as Alphabit and GBIC. RAI finance intends to leverage new funds to develop the existing distributed financial ecosystem through Rai Finance, notes the announcement.
PC: Pixabay
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