Formation Fi DeFi Protocol Raises $3.3M for Smart Yield Farming

[LazY]

The latest decentralized finance (DeFi) protocol to raise venture capital coin is Formation Fi, which has dubbed the concept of “Smart Farming 2.0.”

In a May 5 announcement, the DeFi protocol stated that it has successfully completed a $3.3 million strategic sale round. Participating in the round were some of the usual names in crypto investment including Kenetic, Kosmos, Spark Digital Capital, AU21, X21 Digital, Momentum 6, GenBlock, GBV Capital, Shima Capital, and Brilliance ventures.

A number of DeFi protocols such as Synthetix, Bancor, and Polygon also contributed to the oversubscribed round.

DeFi smart farming 2.0
Running with the slogan “The End of Yield Chasing,” Formation Fi aims to introduce “risk parity inspired smart yield farming 2.0,” enabling users to tailor their level of exposure while receiving guidance from the protocol.

This will be provided through the creation if a “founders’ club” which will comprise the founders of top DeFi platforms and companies it wishes to work with long-term.

Formation’s co-founder Kristof Gagacki elaborated;

“We are proud to be building on the collective wisdom of some of DeFi’s first pioneers. With our founders’ club approach, we are focused on coming together to build and amplify this still-experimental ecosystem and evangelize Smart Yield Farming into the world of open finance”

Formation Fi promises to simplify DeFi for ordinary investors and deliver superior returns over time by optimizing the return-to-risk ratios.

Crypto collateral can be deposited into index type investments called Alpha, Beta, Gamma, and Parity that will yield an index coin that can then be further deployed for additional yield at the holder’s discretion, it added.

On the surface the platform appears to be trying to emulate what Yearn Finance has done by aggregating yields from a number of DeFi protocols.

Sorce