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Single Finance raises $1.2m to launch the first liquidity mining past performance database and pseudo market-neutral strategy platform.
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Their users will be able to execute pseudo market-neutral leveraged liquidity mining strategies with optimal capital protection.
Hong Kong, China–(Newsfile Corp. – December 15, 2021) – Single Finance, a decentralized finance protocol which provides leveraged yield farming strategy, closed a $1.2 million seed round funding, the DeFi project announced in early December.
Single Finance
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0xVentures, Enzac Research, Genblock Capital, Trinity Venture Capital, SkyVision Capital, and some angels in the industry who wish to remain anonymous, are participating in the seed round funding. Aventures and Contango Digital Assets will also join as strategic partners to strengthen the connection to the DeFi world.
Single Finance says they will bring a user-friendly experience and capital protection to DeFi for everyone to earn more stably. “For both new or experienced farmers, their primary goals are to earn a high yield without suffering too much impermanent loss nor being liquidated in a flash. Single users can just supply assets and enjoy the pseudo market-neutral liquidity mining experience with just a single click,” the representative of Single Finance said.
On the Single Finance platform, users borrow digital assets from their lending pool and will be sent with deposited funds to decentralized exchanges such as TraderJoe, Pangolin and VVS.finance. Moreover, the yield obtained from the platform is auto-compounding by Single Finance bots. As Single Finance runs on a market-neutral strategy, the non-stable coin asset of the selected liquidity pair is fully hedged by the asset borrowed at the beginning of the position. Thus, the impermanent loss impact will be minimized. The re-balancing of the liquidity pool assets…
