- The company is now valued at $44 million.
- Both funds and private investors took part in the round
- Tapioca uses LayerZero technology
Decentralized Autonomous Organization TapiocaDAO, creating the first ever omnichain money market in over 17 EVM and non-EVM networks, announced about the closing of the seed round of funding for $6 million.
Investors: Magnus Capital, LayerZero Network, Fisher8 Capital, PARC Capital, Jones DAO, Dewhales, DCF God, coinflipcanada, Noah Seidman, CryptoCondom, Small Cap Scientist, icebergy.
Here are a few benefits of TapiocaDAO:
- multi-network compatibility;
- supports over 17 blockchains, both EVM and non-EVM;
- provides effective communication and interaction, simplifying the process of lending and borrowing;
- uses the veTAP token escrowed by voting for governance purposes, allowing token holders to participate in decision making and share the revenue generated by the commissions generated by the platform.
TapiocaDAO is developing the first omnichain currency market of its kind, with the goal of making decentralized financial services (DeFi) accessible and easy for users across various blockchain networks. The main goal of the project is to expand the scope of DeFi services by providing users with a single unified platform for borrowing and using assets in various blockchain networks.