OptyFi raises $2.4M seed round, launches on mainnet
Jan. 28, 2022 OptyFi, a decentralized finance (DeFi) asset optimizer, has announced the completion of a $2.4 million seed-funding round.
The round was led by Dialectic and included Stratos Technologies, Octava, Wave Financial, 0xVentures, Platinum Capital and other participating investors. The funds will go toward continuing product and ecosystem development.
The beta version of OptyFi launched on the Ethereum network in January and is used by several hundreds of users.
DeFi has created a once-in-a-lifetime opportunity for wealth creation. However, many are locked out of this opportunity because DeFi requires expertise and time commitment. OptyFis mission is to overcome DeFis significant entry barriers and enable anyone to simply and automatically generate wealth from crypto assets.
OptyFi monitors hundreds of liquidity pools across dozens of protocols and multiple blockchains. Users assets are continually shifted into the best-performing strategies, and the protocols optimization engine uses machine learning and data analytics to predict the optimal strategies given current market conditions and users risk preferences.
While DeFi can be very profitable, there are significant barriers to entry for users with limited time and expertise. OptyFi attempts to address this fundamental pain point directly, said Faisal Qureshi, founder of OptyFi. By taking a first-principles approach, we have developed a decentralized wealth generation platform that can keep up with the extremely fast pace of change in DeFi while providing users with an intuitive and simplified experience.
The OptyFi app. Source: OptyFi
Simone Conti, general partner of Dialectic, said, We live in a world where returns are difficult to obtain, especially when we consider inflation. OptyFi is perfectly positioned to give access to the world of Defi, its financial innovations and its returns to those who do not have the expertise or the time to monitor what is happening on a daily basis. We were impressed by the OptyFi vision and early versions of its platform. The enthusiasm in the community is also tangible, as they can already appreciate the potential of OptyFi with the beta vaults, and we are looking forward to supporting the team in its future roadmap.
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