We are pleased to announce that a $5M sale of DVF tokens has been made to an incredible group of strategic supporters who will help to govern DVF when it launches, and who will guide DeversiFi as it grows in the future.

12.5% of DVF tokens were sold with a lock-up to these long term supporters, and proceeds will allow DeversiFi to keep expanding the team, and prepare to onboard the world to Layer-2 DeFi following the launch of DVF and liquidity mining.

“DeversiFi brings to life a high performance DeFi trading experience without paying high gas fees. Ethereum and DeFi are graduating from dial-up to broadband with L2s this year and DeversiFi is at the forefront of this transition that, ultimately, realizes the promise of why DeFi will eat CeFi: faster, better, and cheaper, said Santiago R Santos, Partner at ParaFi Capital.

DVF’s overall token distribution is heavily geared towards building a strong community with a fair distribution that will recognise the users of DeversiFi. 50% of the supply therefore will be distributed to the community via liquidity mining, or distributed via another method chosen by governance proposals, in addition to several other airdrops.

Our New Strategic Supporters

We were overwhelmed with the interest. ParaFi led the round which also included:

Industry and world leading funds:

Exchanges:

DeFi Founders:

In addition the following projects, angels and supporters have either participated in the round and/or joined as advisors

Our Mission

DeversiFi is on a mission to onboard the next wave of users into DeFi, helping everyone to access the financial opportunities that are being created by open and decentralised protocols, without having to compromise on security or self-custody, and without the friction and cost that is currently present on Ethereum.

We partnered in 2019 with StarkWare to deliver our current solution on Ethereum, building the world’s first application that uses zero-knowledge STARK proof technology to cheaply and securely process thousands of transactions.

Whilst we were lucky to have some incredible partners (StarkWare and Bitfinex) we were a very small team a year ago and the prospect of building a Layer 2 solution for DeFi seemed daunting. At the time there were no L2 scaling solutions live on Ethereum, and whilst a core group of developers and researchers spoke about zk-rollups, plasma, and other concepts, it was unclear how soon they would be ready, and there was very little wider awareness about them.

Our backers in our earliest equity funding round included Bitfinex, ZeePrime Capital, and some brave angel investors such as George Hallam and Jez San. They took a real risk on our team and vision for L2 Ethereum, and have been incredible supporters ever since. Later in the year as we launched DeversiFi on mainnet, D1 and ParaFi joined and began to contribute their experience.

Despite these great early backers we had to bootstrap everything. It was the bottom of the bear market, and it wasn’t obvious when that would change. Our team had a significantly smaller treasury than the other teams we knew were building L2 applications, and so we had to stay laser focused on building the best possible product for our users and proving a fit for the target audience.

Over the last 3 months DeversiFi traction and new users has started to go exponential. DeversiFi is becoming the easiest way to access DeFi from any wallet such as Metamask. Already you can invest, swap, earn yield, and send tokens all without paying gas fees on layer 2. AMM liquidity provision is just around the corner.

So far this growth has been organic with almost no marketing spend, and this recent raise and new strategic supporters will allow us now to double down on accelerating this growth - expanding the team rapidly with hires across the board, investing heavily in the user experience and product, and kickstarting liquidity mining and other incentives.

We are so proud of what our team has accomplished so far on a tight budget, but now following this strategic DVF sale we are ready to really unleash our ideas and energy and take DeversiFi to the next level! Our focus over the next few months will be on the launch of DVF, AMM pools, bringing more yield opportunities to DeversiFi [link to yield announcement], and a full user-experience revamp.

How can YOU get involved?

We should mention all the ways people can get involved:

  • Sign up to our Email newsletters to be notified when the token launches or there are opportunities to earn it
  • Receive DVF via airdrops if you are a user of DeversiFi
  • Earn DVF via liquidity mining on 18 different AMM pools and tokens when they initially go live
  • Potential Balancer LBP to seed liquidity (stay tuned...)

About DeversiFi

DeversiFi makes DeFi easy. Swap, Invest and Send without paying Ethereum network fees.

Website: www.deversifi.com

Twitter: https://twitter.com/deversifi

Discord: https://discord.gg/bfNDxZqPSvf