- Don-Key just completed its private funding round where it raised $2.2 million.
- The funds were raised by top crypto players such as Black Edge Capital, AU21, Genesis.
- Block Ventures, Spark Digital, Solidity Ventures, MoonWhale, and Morningstar Ventures.
- Don-Key is set to revolutionize the yield farming space.
Don-Key has just announced that it has completed a private funding round. A source told CoinQuora that the round raised a whopping $2.2 million. This has secured its DeFi social yield farming platform.
Additionally, the amount was raised with the help of leading blockchain companies. These included funds from Black Edge Capital, AU21, Genesis Block Ventures, Spark Digital, Solidity Ventures, MoonWhale, and Morningstar Ventures.
The social yield farming venture, Don-Key, aims to reduce the barrier on entry for both yield farmers and liquidity providers. This will mean opening the DeFi space for people who either don’t have the skills to create strategies or hold a low volume of funds, thus preventing them from participating in the DeFi world.
Gil Shpirman, Co-Founder and CEO of Don-Key says
We are very excited to see our vision come to life, I think that what is so special about our project is that every one that is working on it, is also going to be a future user once we launch. That’s not something you see on every project, and I think it says a lot of what we are trying to build here.
Outsmarting DeFi With Social Farming
Recently, yield farming has become a great interest in the DeFi world. The number and complexity of yield farms have soared as well as the number of blockchains that now support liquidity mining. Yield farming is not as simple as it sounds, for a single error can prove a costly mistake.
Don-Key is working to make the yield farming space simpler and easier for newbies. By using the proven success of social trading, the platform will maximize the upside by bringing liquidity providers and yield farmers together. Likewise, Don-Key will do to yield farming what social or ‘copy’ trading did for cryptocurrency trading.
Key features will include:
● Copy farming: Learn and auto-invest in the latest farming opportunities by following top farmers and browsing Don-Key’s leaderboard.
● Strategy Builder: Drag-n-drop interface to easily plan and optimize different farming scenarios.
● Farmer reputation: Choose based on proven APY results and historical track record.
● Investor reputation: Top participants will unlock extra levels and access the highest alpha opportunities.
● Tokenized rewards: Top farmers and liquidity providers will receive rewards.
● Non-custodial pools: Save substantial gas by pooling investments with other investors utilizing the same protocols.
This article was first published on coinquora.com