XY Finance, the rapidly growing DeFi startup, has just closed its latest round of funding. The $12 million round has included some of the most prominent venture capital firms within the cryptocurrency space.
Iconic entities including Circle, Infinity Ventures Crypto, Mechanism Capital, Morningstar Ventures, Yield Guild Games Ventures, and Animoca Brands participated in the round. The full list of investors includes more than forty different investment firms.
Circle's participation in XY Finance's latest funding round is particularly intriguing. The global fintech firm has backed several other highly successful startups. Circle's interest in XY Finance bodes well for the long-term outlook of this up-and-coming cross-chain aggregator.
The Future of Cross-Chain Blockchain Ecosystem
Wilson Huang, the founder of XY Finance, said: "With its focus on cross-chain transactions, GameFi, and NFT, what we're doing at XY Finance will become essential for advanced DeFi users."
Brian Lu, the founding partner of Infinity Ventures Crypto, said: "As a VC we meet thousands of founders a year. And sometimes you come across that one founder that during your first meeting you get that warm and fuzzy feeling and you know that no matter what you have to back this founder, and I got that feeling when I first met Wilson. When he told me that he wanted to create a one-stop cross-chain aggregator for DeFi & Metaverse, his vision was extremely complementary to IVC's portfolios where we have invested in over 10 games on 3 different chains. XY will be the future of cross-chain in DeFi & Metaverse."
An Innovative Customer Experience
As the decentralized blockchain industry continues to boom, users constantly seek new ways to increase their returns on the investments they make, while minimizing the often high transaction fees.
Historically, this has been quite difficult, as systemic exchange issues have made it difficult for users to transfer illiquid tokens.
XY Finance seeks to change all that by providing users with a seamless experience in swapping assets between various chains. This next-gen protocol will become a one-stop shop for users seeking to swap or aggregate their assets in DeFi, NFT, and GameFi markets.
Ultimately, XY Finance will allow investors to save time and money as they conduct exchanges in a hassle-free environment.
XY Token IDO in December 2021 and The Roadmap
Combined with the funds acquired during this latest round of funding, XY Finance will conduct XY Token IDO via balancer liquidity bootstrapping pool (BLBP) on Copper Launch platform on December 9th, 2021. It will ensure that XY Finance has the resources it needs to continue its meteoric growth. XY Finance currently has a detailed roadmap covering Q4 of 2021 through the end of Q2 of 2022.
Currently, XY Finance's hallmark service, known as "X Swap," supports Polygon, Fantom, Ethereum, and Binance Smart Chain blockchains. By the end of 2021, XY Finance plans to provide cross-chain liquidity solutions, and it also plans to start offering support for Ronin, Avalanche, and Arbitrum.
In 2022, XY Finance will continue to expand its services to support additional chains and NFT marketplaces and begin offering multi-language support and additional auditing services.
In Q2 of 2022, XY Finance will add more liquidity pools and limit order swaps.
About XY Finance
XY Finance, created by entrepreneur Wilson Huang, is a Taiwan-based cryptocurrency startup best known as a one-stop cross-chain aggregator for DeFi and metaverse. Using its protocol's platform, investors can transfer cross-chain crypto assets and NFTs cost-effectively and efficiently.
Since the platform launched in 2021, XY Finance has seen consistent triple-digit growth. Trading volume has surged more than 983%, and the unique user pool has increased by 436%. For more information, visit xy.finance