The startup Veda has successfully raised $18 million in a funding round led by the venture fund CoinFund. Among the investors were Coinbase Ventures, Animoca Ventures, GSR, Mantle EcoFund, BitGo, and Draper Dragon.
This is reported by Finway
DeFi Development and Innovative Platform Solutions
The Veda project aims to simplify the use of DeFi products for applications and institutional clients across various blockchain networks. The platform offers a modular DeFi vault system that allows users to create smart contracts for managing yield strategies without the need to delve into the complex logic of protocols. Thanks to the BoringVault standard, users gain access to restaking features, yield-generating stablecoins, and on-chain accounts.
“Our goal has always been to open DeFi to the entire world. And we will achieve this by making DeFi seamless for users,” the statement reads.
Platform Metrics and Future Plans
As of March 2024, the Veda platform has already processed deposits from over 100,000 users, with a total value locked (TVL) exceeding $3.7 billion. Additionally, the company announced plans to partner with one of the top five centralized cryptocurrency exchanges in the near future.
It is worth noting that last week, 31 projects in the sector raised a total of over $894 million in investments.