Leverfi, a decentralized finance (DeFi) platform based on Arbitrum One, has raised $2 million in a seed round led by DWS Lab, the venture capital arm of Deutsche Asset Management. The round also included participation from other investors such as Coinbase Ventures, Jump Crypto, and angel investors such as Mark Cuban and Stani Kulechov, the CEO of Aave.

The funds raised will be used to accelerate the development of Lever fi's products and services, including its flagship product, Leveraged Yield Protocol (LYP). LYP is a protocol that allows users to leverage their assets to generate higher yields. The protocol is currently in alpha testing and is expected to launch to the public in Q4 2023.

Lever fi's seed round comes at a time when the DeFi market is growing rapidly. The total value locked (TVL) in DeFi protocols has increased from $5 billion in January 2021 to over $200 billion in September 2023. Lever fi is well-positioned to capitalize on this growth, given its team's experience in the DeFi industry and its innovative product offerings.

Here is a summary of the key points:

#Lever fi, a DeFi platform based on Arbitrum One, has raised $2 million in a seed round led by DWS Lab.

The funds raised will be used to accelerate the development of Lever fi's products and services, including its flagship product, Leveraged Yield Protocol (LYP).

LYP is a protocol that allows users to leverage their assets to generate higher yields.

Lever fi's seed round comes at a time when the DeFi market is growing rapidly.

Lever fi is well-positioned to capitalize on this growth, given its team's experience in the DeFi industry and its innovative product offerings.

$LEVER