DeFi Protocol Ref Finance Completes $4.8M Financing Led by Jump Crypto

Annie Li  Feb 18, 2022 17:10  UTC 09:10

1 Min Read

NEAR's Blockchain ecological DeFi project Ref Finance announced the completion of $4.8 million financings led by Jump Crypto.

Other investors include Alameda Research, Dragonfly Capital, D1 Ventures, OKX BlockDream Ventures, Kucoin Ventures, SevenX Ventures, Kronos, Move Capital, Puzzle Ventures, 0xMaki, Caoyin, etc.

Ref Finance's latest financing will expand its team, continue to build DeFi services, and build better DeFi products and services for customers to support the NEAR ecosystem.

Reportedly, Ref Finance currently uses algorithms such as automatic market maker (AMM) to provide DeFi one-stop service for the NEAR ecosystem.

Some of the DeFi protocols that the market is familiar with, such as Uniswap, use algorithms such as automatic market maker (AMM), allowing investors to deposit funds into the on-chain liquidity pool in advance, which makes a completely decentralized and non-custodial manner, all the while providing seamless transactions between cryptocurrencies.

It also uses the stable-swap market, a version of AMM, to exchange stablecoins.

Currently, NEAR supports the trading of ETH, SOL, LUNA, and CELO tokens through Asset Bridge for financial activities. Transaction costs on Near are about 1 cent per transaction, and transactions completed in one to two seconds.

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