Bolide Finance, a DeFi yield optimization platform announced the successful closure of a Private Sale. The seed round is valued at $3million. These funds will help Bolide to fulfil its mission of creating an ecosystem with a variety of investment strategies in the DeFi market. A number of high profile angel investors got BLID governance tokens with a year lock-up period and 2 years 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 and non-custodial manner. Bolide works by using the funds deposited in its smart contracts to farm safe yield on multiple chains, without requiring users to bridge their assets or worry about manually compounding their gains. Initially deployed on Binance Smart Chain, the project aims to launch on Ethereum and Polygon, as well as any other valuable DeFi-focused chain. All rewards earned from third-party DeFi projects are converted into BLID token and paid to users.
20% of the funds raised during this round will be used for developing the platform and its marketing, while the rest will be transferred to Bolide Treasure. This fund has several functions. First of all, it will generate profit by placing money according to our algorithm-based investment strategies. Secondly, Bolide Treasure envisages buying back an optimal number of BLID tokens from the market. Finally, Bolide Treasure is additional insurance for our customers in case of excessively high volatility in the crypto market.
“All in all, it was a serious challenge for the whole team and I am 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 Bolide COO, Oksana Bid.
She added, “I am glad that we have an exceptional team which 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”.