DefiDollar Receives Investment From Binance Smart Chain

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DefiDollar received an investment of $ 100 million from a fund provided to support the DeFi ecosystem on Binance Smart Chain. DefiDollar will support BSC with its own products.

Aiming to gain access to Web 3.0-based DeFi applications, DefiDollar will present its own product line to support DeFi activity on Binance Smart Chain. Thus, the platform aims to contribute to the experiences of BSC users.

The amount of investment the platform received is not specified.

What services does DefiDollar have?

The platform has four main services:

  • DUSD: DefiDollar’s stablecoin index that aims to reduce the risk and systemic problems seen in stable coins.
  • ibBTC: Allows users to earn interest from Bitcoins.
  • Opeth: Put option that provides efficient stablecoin loans.
  • Savings account: It aims to obtain low-risk returns from stablecoins.
    It has been stated that Opeth and ibBTC have not yet been released.

Their goals are to contribute to users

DefiDollar co-founder Siddhartha Jain says they want to contribute to users through their DeFi-focused products. Saying that the roadmap is to launch products such as ibBTC and Opeth, Jain said, “These will enable the protocol to appeal to a wider audience.” said.

Partnering with Curve and Chainlink, the platform integrated DUSD and savings account service to BSC on April 28 with the support of Nerve Finance.

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