March 30th, 2021 at 2:00 pm UTC · 2 min read
DeFi platform Blockswap network has completed a $2.5m private placement investment round that included NGCm, Wave Financial, Algorand EU accelerator, ZeePrime capital,DFG, 4th Revolution Capital, Blocksync Ventures and others.
The funds will allow BlockSwap Network to keep expanding and improving its sustainable yield offering via proof-of-stake benefits. This solution attracts attention from the broader cryptocurrency community as finding stable DeFi yield farms is nigh impossible. Furthermore, BlockSwap Network will launch an incentivized CommunityNet to distribute 250 million tokens ahead of the BSN mainnet launch.
Ongoing development will allow BlockSwap Network to incentivize more existing staking operators and holders of PoS tokens to explore these stable DeFi yield farming opportunities.
As an immutable protocol bringing fixed income products to DeFi on PoS assets, BlockSwap Network insulates users from dealing with crypto asset volatility and the complexities associated with traditional staking processes. The team’s mission is to utilize staking to redistribute wealth and nurture a foundational user base.
ZeePrime Capital Partner Jakub Gregus adds:
“The DeFi industry is the last resort of positive yields for all who wants to save needs properly structured products taking into account biggest opportunities but also risks. We are happy to support the BlockSwap team, one of the few teams who understand the deep nuances of tokenized cash flows.”
NGC Founding Partner Roger Lim comments:
“Blockswap’s vision of enabling anyone with a smartphone to a high yield savings account will help empower the unbanked and make society more inclusive. We are so happy to be part of this journey with Blockswap.”
Dynamic Fintech Group (DFG) Founder and CEO James Wo explains:
“At DFG we are convinced that DeFi will be a major driving force for the whole digital assets space. BlockSwap is an important reference of this promising sector, with its innovative services as a PoS asset manager due to its decentralized operations and inclusive entry requirements for all types of investors, making it possible to offer services to a larger market than any traditional bank has been able to enter to this date.”
BlockSwap Network makes Proof of staking benefits accessible to everyone as a stable yield source, incentivizing existing staking operators and PoS token-holders by insulating everyday users from dealing with crypto asset volatility and its staking process’s complexities.
Advisors: Republic Crypto, BlockVenture Coalition.
For more news and latest updates please visit BlockSwap Network Twitter and Telegram accounts.