In a press release shared with Cryptoreportage, the DeFi Wizard platform announced that it has received $750,000 in a funding round with leading companies in the blockchain industry. The round was led by X21 Digital, AU21 Capital, Amsterdam-based TRG Capital, DeltaHub Capital, NGC Ventures and ExNetwork.
DeFi Wizard is a dashboard designed for building smart contracts for decentralized finance in a simple way. The platform offers a diverse selection of tools for programmers that allow them to create applications with tokens with various standards: ERC-20, BEP-20, EDST, and with functions including staking, yield farming, cross-chain bridge, governance, and others.
Created with the purpose of helping companies and corporations to issue digital assets, DeFi Wizard aims to become the preferred one-stop site for those interested in creating their tokens. The CEO and founder of DeFi Wizard stated the following on the completion of the funding round:
“It gives us immense pleasure to announce that our platform DeFi Wizard has attracted the attention of leading blockchain investors and funds”.
Data shared by the platform claims that DeFi Wizard’s staking feature is in use by more than 5 projects. Thus, they have managed to lock over $100 million in assets under management in the smart contracts created using the platform’s capabilities. One of these 5 projects is listed on Binance, the world’s largest crypto exchange.
How will DeFi Wizard use the money raised?
The funds obtained by DeFi Wizard have two specific purposes. The first is to increase and further support the development of the platform in conjunction with its operations and required maintenance work.
In parallel, DeFi Wizard plans to use part of the funds to obtain the necessary liquidity for its listing on the Ethereum-based decentralized exchange, Uniswap. In addition, they will also intensify their promotional efforts globally and regionally with the aim of attracting more users to the platform and generating awareness of its capabilities.