This year has started strong for Ref Finance. With $4.8 million raised, the world of decentralized finance (DeFi) is bound to amplify this year.
Ref Finance, the leading DeFi protocol in the Near ecosystem, has recently closed a strategic over-the-counter sale led by Jump Crypto, with participation from Alameda Research, Dragonfly Capital, D1 Ventures, OKX Blockdream Ventures, KuCoin Ventures, SevenX Ventures, Kronos DAO, Move Capital, Puzzle Ventures and individuals including 0xMaki and Cao Yin.
In building capital with these investors who are among the best in the market, Ref Finance is strategically positioning itself for an aggressive market position in DeFi and as a core Near ecosystem enabler. Access to capital is a crucial step in the growth of a product to fit its market and cater to its audience, which can indirectly benefit established ecosystem partners in the Near ecosystem
Ref Finance is currently serving as an automated market maker, StableSwap marketplace and DeFi one-stop-shop for the Near ecosystem. It helps many of Near’s projects cultivate better liquidity. As Near grows to better support multi-chain interoperability, Ref Finance plays an important role as the DeFi gateway for users and assets on Ethereum, Solana, Terra and Celo, which are all connected to Near via different asset bridges to create a market and better place to trade.
With funds raised from investors, Ref Finance aims to expand its team to continue building DeFi services that will better support the Near ecosystem.
“We are excited to partner with Ref Finance as it builds one of the core DeFi primitives on Near,” said Saurabh Sharma, partner and head of venture at Jump Crypto. “Given its dynamically sharded proof-of-stake consensus design and support for developer-friendly languages such as Rust and AssemblyScript, Near is well-positioned to be one of the leading Web3 platforms, and we believe Ref will play an important role in its growth.”
“We’re excited to support the Ref team in its mission to become the leading financial-services platform and trading venue for the Near DeFi ecosystem,” said a spokesperson of Dragonfly Capital.