According to ChainCatcher, DeFi yield strategy platform Canopy announced the completion of a $1.2 million financing round, with investors including Mechanism Capital, CitizenX, Primitive, GSR and Side Door Ventures. Canopy plans to use this financing to accelerate the construction of DeFi infrastructure within the Movement Network ecosystem and introduce more liquidity.

Canopy is a member of the Move Collective accelerator under Movement Labs, focusing on solving the problems of liquidity fragmentation and inefficient returns in the DeFi field. The platform provides one-stop return strategy management, integrates customized strategies and cooperation agreements, and helps users optimize returns. At the same time, its reward distribution engine can automatically compound and optimize return generation.