SEOUL, South Korea,
Oct. 23, 2020 /PRNewswire/ -- The
blockchain-based decentralized finance (DeFi) protocol RAI Finance
announced that it has succeeded in attracting approximately
$1.5 million worth of strategic
investment led by global crypto funds including GBIC and
Alphabit.
Rai Finance is a project which seeks to build a DeFi ecosystem
with a higher amount of liquidity and diverse set of financial use
cases by integrating with the Polkadot ecosystem. Rai Finance,
combined with Polkadot's cross-chain compatibility, was created to
solve problems in building DeFi-based digital assets and supplying
liquidity to existing distributed financial ecosystems.
The ~1.5 million USD investment in Rai Finance is led by global
renowned crypto funds such as GBIC and Alphabit. GBIC has invested
in many well-known blockchain projects worldwide including Oasis
Labs, Theta, and Iotex. Similarly, Alphabit is a global crypto fund
known for investing in projects such as Bella.
"We are pleased to attract strategic investment from global
crypto funds ahead of the launch of Rai Finance. We will strive to
complement and further develop the existing distributed financial
ecosystem through Rai Finance", said Lee Keonho, CEO of Rai
Finance.
About RAI Finance
RAI Finance is a protocol designed to provide DeFi with a wider
range of assets, a higher amount of liquidity, and a diverse set of
financial use cases. When this feature set is combined with the
cross-chain compatibility of the Polkadot ecosystem, it eliminates
fragmentation across the existing DeFi ecosystem by bringing a
complement of new assets and a higher amount of liquidity to
decentralized finance. Learn more: https://rai.finance
About Polkadot
Polkadot is a next-generation blockchain protocol connecting
multiple specialized blockchains into one unified network. Designed
as part of a broad vision for a web that returns control to
individuals over internet monopolies, Polkadot builds on the
revolutionary promise of previous blockchain networks while
offering several fundamental advantages. Learn more:
https://polkadot.network
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SOURCE Rai Finance