Quick take:
The fundraising attracted participation from Electric Capital, Mirana Ventures, Hashed, Lightspeed Faction and Robot Ventures, among others.
Infinit plans to use the fresh capital to enhance its infrastructure and facilitate a seamless experience for DeFi protocol builders.
The company provides infrastructure tooling to develop DeFi applications including decentralised exchanges, yield protocols, perpetual platforms, etc.
Decentralised finance (DeFi) abstraction layer Infinit has raised $6 million in a funding round backed by Electric Capital, Mirana Ventures, Hashed, Arthur Hayes’ family office, Maelstrom, Lightspeed Faction, Robot Ventures, Nomad Capital, Tangent and Presto Labs.
According to the platform’s website, Infinit’s DeFi abstraction layer enables developers to build different apps including money markets, DEXes, yield protocols, and other DeFi protocols on any chain in just a few clicks.
The company plans to use the fresh capital to advance its infrastructure and facilitate a seamless experience for DeFi protocol builders. The platform already powers more than 12 applications across three chains, including protocols like Ethena and ZeroLend.
“The goal is for coding to eventually become a non-requirement, allowing anyone to build and launch in minutes using the INFINIT frontend,” the team said in a statement on Thursday.
According to a press release, Infinit hit a TVL of $650 million in August, led by Ethena and INIT Capital, which hit a TVL of $270 million within four months of launching.
Commenting on his company’s experience building on Infinit, Guy Young, Founder at Ethena Labs said in a statement: “INFINIT has driven our USDe trading volume and liquidity provisioning on both Mantle and Blast from day one. INFINIT’s support has enabled us to rapidly expand into new ecosystems and set a strong foundation for future scalability.”
Tascha Punyaneramitdee, Founder and Core Contributor at INFINIT commented: “We created INFINIT to revolutionize how DeFi protocols are launched and scaled by abstracting away the complexities. We are committed to becoming the backbone infrastructure for DeFi developers to build the projects that onboard the next million developers and users to DeFi.”
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The post Infinit Secures $6M Funding Round for Its DeFi Abstraction Layer appeared first on NFTgators .