DeversiFi closes $5 million round of DVF lead by ParaFI
Summary
We partnered in 2019 with StarkWare to deliver our current solution on Ethereum, building the world’s first application that uses zero-knowledge STARK proof technology to cheaply and securely process thousands of transactions. Whilst we were lucky to have some incredible partners (StarkWare and Bitfinex) we were a very small team a year ago and the prospect of building a Layer 2 solution for DeFi seemed daunting. At the time there were no L2 scaling solutions live on Ethereum, and whilst a core group of developers and researchers spoke about zk-rollups, plasma, and other concepts, it was unclear how soon they would be ready, and there was very little wider awareness about them. Our backers in our earliest equity funding round included Bitfinex, ZeePrime Capital, and some brave angel investors such as George Hallam and Jez San. We are so proud of what our team has accomplished so far on a tight budget, but now following this strategic DVF sale we are ready to really unleash our ideas and energy and take DeversiFi to the next level!
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