Evrynet has announced a successful funding round that has attracted numerous investors and backers. The $7 million collected will be used to build a decentralized platform for institutional investors and bring the industry to a new level.
The company's goal is to introduce decentralized finances to institutional investors and attract more funds to the industry in general. Additionally, Evrynet creates a convenient platform that can be used by individual investors. The product includes a wide selection of yield and passive income products.
The Evrynet ecosystem will welcome developers and fintech businesses as an advanced financial service platform that allows for the building of centralized and decentralized finance applications with full cross-chain support. Evry Network provides open source services to anyone who is willing to join its network and build their own DApps.
After the completion of a successful funding round, Evrynet took a large step toward building a financially inclusive platform. The private investment round was led by Signum Capital and among the participants were Petrock Capital and Ellipti Ventures. One of the early participants in the investment round were HashKey Capital, Everest Ventures, Hanhwa Investments and Securities, Seven Bank, UOB Venture Management, Uni-President Asset Holdings, Hopeshine Ventures and Du Capital.
Project lead Korapat Arunanondchai has shared his vision about the future of the project that will continue to build technology in order to incentivize financial activity, mainly in Southeast Asia. The company will be able to provide fast, cheap and secure methods for money transfers thanks to blockchain and smart contract technologies that allow users to make decentralized transfers with low fees.
Evrynet platforms utilizing all significant blockchains that include ERC-20 and BEP-20 tokens with a possible expansion in the future. The project's ecosystem uses the Tendermint consensus protocol with the utilization of a proof of stake (PoS) mechanism that is the most balanced solution between the speed and security of the network. Fees on the network are static but adjustable at the same time, depending on network congestion.
Evry.Finance is the first product of the Evrynet ecosystem that aims at providing institutional-tier services for investors all over the world who are willing to join the DeFi industry. Private investors will also be able to enjoy their products with the use of a simple user interface that is aimed at accessibility and inclusivity.