CartelFi: DeFi's first cartel raises $500K in 24 hours
Summary
CartelFi, the new, cartel-themed yield farming protocol, has raised $500k within 24 hours after launching its CARTFI token presale.The team aims to connect the $90 billion world of DeFi and the growing meme coin sector. The platform, which refers to itself as a memecoin cartel, enables users to deploy their tokens to generate passive income without needing to sell, offering functionality not previously available in this space.This marks the first time a product of this kind has entered the market, reflecting significant ambition from the team. The initial exchange listing is scheduled for 7th July, with Stage One prices set at a significant discount compared to the final stage.Head to the CartelFi website to learn more.Yield farming for meme coins has not been successfully executed until nowCartelFi introduces a new approach that aims to address the long-standing challenge of balancing long-term holding with the opportunity for passive income. The platform raised $500k on day one of its presale.Currently, accessing yield typically requires selling meme tokens and reallocating funds into more stable assets, such as stablecoins, within liquidity pools (LPs). The project positions itself as part of the evolving DeFi 2.0 landscape, aiming to introduce new mechanisms for yield generation.25% of CARTFIs 1 billion total supply went on sale yesterday.