Public Announcement of IncrementFi’s Seed Fundraising

IncrementFi, an one-stop DeFi platform building on the Flow blockchain, has raised $1 million in the seed round.

Investors including Dapper Labs, Lattice Capital, Qiming Venture Partners, Quiet Ventures, and many other Flow ecosystem angels took part in the fundraising.

IncrementFi is focusing on bringing a suite of DeFi infrastructures, specifically liquidity and yield solutions to the Flow blockchain ecosystem. Two products, Increment Swap — a fully permissionless decentralized exchange, and Increment Earn — a decentralized lending & borrowing protocol for fungible tokens, have been live on mainnet since May 2022, with a combined TVL around $2,500,000 at release time.

The company was founded by blockchain veterans and long-term builders in the crypto industry, with talents from both Web3 and Web2 including previous software engineers from Google, Ubisoft, and Baidu. Siyuan (Jonny), co-founder & core contributor, states that the funds will be used “to expand the team, conduct collaborations, and to develop further products and innovations”.

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Flow’s scalability and low cost, rich on-chain assets and ecosystem, mass audiences other than native crypto users make it unique and outstanding from the existing EVM-compatible blockchains that simply forked from go-ethereum. With the announcement of the $725m ecosystem fund and Flow’s upcoming milestone of permissionless deployment, a booming on-chain token economy is around the corner — and IncrementFi is filling the gap and paving the way for that acting as the leading DeFi platform on Flow.

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Follow IncrementFi’s official social media accounts and visit its website to stay up to date with everything IncrementFi.

Twitter: https://twitter.com/incrementfi

Discord: https://discord.gg/increment

Website: https://app.increment.fi