XY Finance Raises $12M to Revolutionize Cross-chain Blockchain Ecosystem
XY Finance takes pride in announcing that we have raised $12 million from Circle (Circle Internet Financial), Infinity Ventures Crypto, Mechanism Capital, Morningstar Ventures, YGG (Yield Guild Games), and Animoca Brands. We are honored to see investors across core pillars in the industry: exchanges, venture funds, research firms, GameFi DAOs, and game developers, such as MEXC Global, TRON Foundation, gCC (gumi Cryptos Capital), Lemniscap, Evernew Capital, PANONY, Axia8, Looksrare.vc and more.
The fundraising is an attestation of growing institutional confidence towards the network and the immense value it brings to the crypto trading market. We aim to leverage the proceeds to enable a long-term vision that will accelerate and uplift the cross-chain industry as a whole; XY Finance is to become the best one-stop cross-chain aggregator for DeFi and Metaverse.
“XY Finance is at the cutting edge of DeFi and we’re excited to partner with them for multi-chain solutions to benefit the YGG community in the long term. Our guild exists across multiple protocols, and our players earn rewards from many different play-to-earn games, so XY’s ability to streamline the interaction between blockchains will save on transaction fees and deliver a much better experience overall.” — Gabby Dizon, the co-founder of Yield Guild Games (YGG)
Skyrocketing Cross-chain Demand & An Innovative Customer Experience
Over the past year, we saw more and more scaling solutions including layer 2s, sidechains and roll-ups garnering attention from users and dApps from DeFi, NFT, and GameFi sectors.
Based on the data from DeFi Llama, the total value locked (TVL) on Ethereum accounted for 94.26% of the overall TVL on all existing chains on the 2nd of August, 2020. Notably, the TVL on Ethereum sharply plunged by 28.36 percentage points to 65.90% on the 22nd of November 2021. The sharp decrease in the occupation of Ethereum in the crypto world, which shows more and more crypto lovers are marching into other competitive networks and boosts the demand for cross-chain swaps.
Despite the industry expansion, specific systemic issues are impeding the full potential of decentralized markets. Apart from archaic and lengthy transfer processes, users are crippled by high transaction fees, preventable price slippage, and costly frontrunning by trading bots. Meanwhile, GameFi players and NFT collectors can only store, trade, and use their exclusive NFTs on the native chain for now; they cannot transfer their NFTs to other chains to start a new adventure, which is unreasonable. All mentioned above created an unpleasant user experience, which XY Finance is thriving to resolve.
This is why we’re introducing XY Finance, a next-generation cross-chain aggregation platform that facilitates seamless and secure transfer of on-chain assets, including tokens, NFTs, and more. Ultimately, this will allow crypto natives to save time and money while conducting exchanges in a hassle-free environment.
“With its advanced cross-chain bridge, XY Finance is driving the evolution of interoperability and enhancing the way that different platforms and systems interconnect.” — Yat Siu, the executive chairman and co-founder of Animoca Brands
Public Token Sale Coming Soon
XY Finance has deliberately spread the private financing slots across various entities to ensure maximized decentralization in addition to leveraging experts across diversified blockchain fields. Moreover, we are and will continue to be a community-first project. Our fundamental element is decentralization, and this can only be achieved through the widespread distribution of our native token, which can also offset the risk of a large swing in future token price movements.
Consequently, we are planning to host our initial DEX offering (IDO) on the 9th of December 2021! We are seeking the best way to make our IDO a truly fair public financing round, aiming to tackle unreasonably-high thresholds for participating in IDOs of promising crypto projects.
When we launch the IDO, XY Finance will be releasing our governance token, XY Token. This means that members of the crypto community can easily purchase IDOs from XY Finance without a pre-mining delay. Please be wary of FAKE tokens on DEXs. We will provide our token contract address and the link to our IDO page at that time.
“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.” — Brian Lu, the founding partner of Infinity Ventures Crypto
Join Us and Stay Up to Date with XY Finance Adventure
Visit our website: https://xy.finance/
Join our Telegram: https://t.me/xyfinance
Follow our Twitter: https://twitter.com/xyfinance
Chat on our Discord channel: https://discord.gg/kGj5tspfJH
