NEAR Protocol
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NEAR Protocol

Ref Finance raises 4.8$ million in Strategic Sale

Jump Crypto, Dragonfly, Alameda, D1 Venture.

$4.8 Raised — A big thank you to all investors!

2022 started strong for Ref Finance with $4.8 million raised, DeFi is amplified this year!

Ref Finance, the leading DeFi protocol on NEAR, has recently closed a strategic OTC sale that was led by Jump Crypto, with participation from Alameda Research, Dragonfly Capital, D1 Ventures, OKX BlockDream Ventures, Kucoin Ventures, SevenX Ventures, Woo Network, Move Capital, Puzzle Ventures as well as individuals / DeFi influencers.

By having the chance to build capital with these investors, which are some of the best in the market, Ref Finance is strategically positioning itself for an aggressive market position within DeFi and as a core NEAR ecosystem enabler. Access to capital is a crucial step in the growth of a product to fit the market and cater to its audience, which then would indirectly benefit its established ecosystem partners in the NEAR ecosystem

Ref Finance is a one synchronous DeFi protocol on NEAR, that is currently working as an AMM and as a stableswap marketplace, serves as a DeFi one stop shop to the NEAR ecosystem. It is the enabler to most of the projects on NEAR to create better liquidity. As NEAR grows to better support multi-chain interoperability, Ref Finance plays an important role as the DeFi gateway for users and assets of Ethereum, Solana, Terra, Celo. Which are all connected to NEAR via different asset bridges for them to create a market and have a better place to trade.

With the fund raised from investors, Ref Finance aims to expand their team to continue to build DeFi services that would better support the NEAR ecosystem.

Hand picked quotes by Ref.Finance from the participating investors:

“We are excited to partner with Ref Finance as they build one of core DeFi primitives on NEAR”, said Saurabh Sharma, Partner and Head of Venture at Jump Crypto. “Given its dynamically sharded PoS design and support for developer friendly languages such as Rust and AssemblyScript support, NEAR is well positioned to be one of the leading Web3 platforms and we believe Ref will play an important role in its growth”

- Saurabh Sharma, Partner and Head of Venture @ Jump Crypto

“We’re excited to support the Ref team in their mission to become the leading financial services platform and trading venue for the NEAR DeFi ecosystem.”

- Ashwin Ramachandran, General Partner @ Dragonfly Capital

The Future is NEAR. The Future is DeFi.

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