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DeFi Startup Cryption Network Raises $1.1M Funds

DeFi Startup Cryption Network Raises $1.1M Funds
  • Cryption Network raises $1.1 million on its funding rounds.
  • The project welcomes investments from angel investors and other huge capitalists.
  • Its products allow users to swap, farm, invest and predict without heavy network congestion.

On Monday, Cryption Network, a user-friendly retail DeFi platform, completed its funding rounds. The network has raised a total of $1.1 million in its latest private rounds.

Tejas Chitnis, CEO of Cryption Network stated,

We are humbled to have received such unprecedented demand from investors and support for the ecosystem. This round illustrates a high degree of confidence in our project from the crypto community.

Moreover, the project welcomes investments from well-established private capitalists including Master Ventures, CMS Holdings, GravityX Capital, and GenBlock. In addition, Ascensive Assets, X21 Digital, AU21, and WaterDrip also invested in Cryption. More so, angel investors such as Sandeep Nailwal of Polygon and Humayun Sheikh of Fetch.ai also funded the network.

Of note, Cryption Network was created to promote crypto adoption through onboarding regular retail users. The network was launched in Polygon and its products allow users to swap, farm, invest, and predict without having to endure heavy network congestion or pay high network fees.

Through its dedicated network, the platform enables Ethereum users to utilize diverse DeFi launched on Polygon blockchain. With that said, users can benefit from its innovative solution and products without actually migrating blockchains.

Alongside supporting NFTs, Cryption Network offers a suite of products for retail investors such as PolyDEX. Furthermore, it introduces an integrated ecosystem with a focus on L2 Swap, Elastic Farming, and a Seer-Prediction Market. Cryption also has its own mobile application on both iOS and Android.

In particular, the Cryption app functions as a digital wallet and dApp browser for both Ethereum and Polygon. The app was designed to ensure smooth onboarding for new users. Thus, Cryption eliminates gas fees, letting users use blockchain apps without worrying about costs.

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Britney is a market analyst who covers stories about the cryptocurrency world. She holds a Business Administration Degree in Finance and aims to let the readers understand crypto from a beginner perspective.