Vee.Finance announced the completion of a multi-million-dollar seed round led by the Huobi Ventures Blockchain Fund and Avalanche Asia Eco Fund AVATAR, as well as other major public blockchain funds participating as well. In particular, Eduardo Tobon, the former president of Diners Club, has also participated in this seed round as an individual investor. According to Vee.Finance, this round of funding is mainly used to expand the team and increase the capacity of the platform to scale up the business.
Vee.Finance is a DeFi lending platform for both traditional finance and crypto users, and dedicates itself to bridging the gap between traditional finance and DeFi by providing users with better digital asset management services. Users can participate in deposits, lending, and long and short positions. On the deposits side, the threshold for traditional financial users to participate in DeFi is lowered through a more user-friendly product experience; on the lending side, through the addition of options for DEX and the first-of-its-kind leveraged trading function, capital efficiency has been greatly improved.
Now Vee.Finance is open for public testing, and an airdrop for VEE token is soon to be launched. Here is the user guide: https://veefi.medium.com/fun-with-defi-vee-finance-deposit-and-loan-operations-and-leverage-trading-e31e68ab8143 .
Also, Vee.Finance team will also initiate an “Bug Bounty Program” to award users who provides valuable suggestions and feedbacks.
Bridging the Gap Between Traditional Finance and DeFi
In traditional financial markets, due to its maturity and ample liquidity, deposit interest rates are close to 0% or maybe even be a negative percentage for some developed economies. This has large discrepancies with the high returns with DeFi applications due to the strong demand for funds in the DeFi ecosystem.
Vee.Finance focuses on introducing the high liquidity of the traditional market into DeFi markets, so that traditional users can enjoy risk-free higher returns, while also allowing DeFi users to obtain a more favorable source of funds.
Optimize Efficiency of Cryptocurrency Asset Allocations
Vee.Finance enhances the efficiency of asset allocations by connecting to decentralized exchanges (DEXes) within the ecosystem and making loans available for direct investment.
As the Vee.Finance team mentioned, “The mission of the project is to lower the threshold for traditional users to participate in DeFi and optimize the efficiency of global asset allocation.” On the Vee.Finance platform, not only can users deposit assets to earn interest, but they can also borrow funds to participate in new investments and transactions, optimizing asset utilization while providing capital liquidity.
About Vee Finance
Vee Finance is a DeFi lending platform for traditional financed and crypto users alike. They are committed to bridging the gap between traditional finance and DeFi and providing users with better digital asset management services. Users can participate in deposits, loans, long and short position and as well as other functions. The mission of the project is to reduce barriers for traditional users to participate in DeFi and optimize the efficiency of global asset allocation.
About Huobi Ventures
Huobi Ventures is committed to further expanding the boundaries of Huobi’s investment and M & A initiatives. With an emphasized focus on emerging areas of future significance such as DeFi or NFTs, Huobi Ventures plans to further accelerate the development of the blockchain industry through global expansion, and gather ecological advantages from both upstream and downstream investments in the industry.
Huobi Ventures Blockchain Fund, as one of the key funds of Huobi Ventures, is committed to provide long-term support to help Huobi group’s assets become the industry leader. Direct crypto investments are the primary service and in complement is project incubation. At the same time, the fund is creating an asset reserve for our asset center to capture global high-quality projects and lay the foundations for the future of our asset center.
Avalanche is an open-source platform for launching decentralized applications and enterprise blockchain deployments in one interoperable, highly scalable ecosystem. Avalanche is the first decentralized smart contracts platform built for the scale of global finance, with near-instant transaction finality. Ethereum developers can quickly build on Avalanche as Solidity works out-of-the-box.