Feb. 18, 2022 — Bolide Finance, a decentralized finance (DeFi) yield optimization platform, has announced the successful close of its private sale — a $3-million seed round. 

These funds will help Bolide fulfill its mission of creating an ecosystem with a variety of investment strategies in the DeFi market. Several high-profile angel investors received the project’s governance token, BLID, with a one-year lock-up period and a two-year vesting period. 

Bolide is a decentralized and cross-chain cryptocurrency investment platform for all crypto users. It allows customers to invest in the DeFi market with a set of algorithm-based investment strategies and earn income in a safe, non-custodial manner. Bolide works by using the funds deposited in its smart contracts to farm safe yields on multiple chains without requiring users to bridge their assets or manually compound gains. Initially deployed on BNB Smart Chain, the project also aims to launch on Ethereum, Polygon and other valuable DeFi-focused chains. All rewards earned from third-party DeFi projects are converted into BLID and paid to users.

During this round, 20% of the funds raised will be used for developing the platform and its marketing, while the rest will be transferred to the Bolide treasury. This fund has several functions: It will generate profit by moving money according to its algorithm-based investment strategies. The Bolide treasury also plans to buy back an optimal amount of BLID from the market. Its treasury is additional insurance for customers in case of excessively high volatility in the crypto market.

“All in all, it was a serious challenge for the whole team and we are so glad that we have successfully passed this stage. However, it’s too early to relax — we are at the very beginning of our journey,” said Oks Bid, chief operating officer of Bolide. 

Bid said, “We are glad that we have an exceptional team that includes crypto enthusiasts who have been in crypto for more than 10 years. Also, we have an exceptionally strong set of initial investors. No doubt, we can build a product capable of adding significant long-term value in the DeFi market.”

Learn more