Metamask Challenger XDEFI Wallet acquires $ 6 million to evolve its DeFi portfolio
XDEFI wallet, a next-gen browser wallet, is pleased to confirm that it has completed a $ 6 million round led by Capital Mechanism as well as contributions from DeFiance Capital, Alameda Research, Sino Global Capital, Animoca Brands, Morningstar Ventures, CoinGecko and DeFi industry participants such as Darren Lau (The Daily Ape), Mark Zeller (Aave), Scoopy Trooples and Mariano Conti.
Sponsored Partner Capital Mechanism, Andrew Kang, declared:
“The crypto landscape has undergone immense changes over the past year due to the explosion of the DeFi, NFT and Multichain ecosystems. We are delighted to support the XDEFI team, who have designed a wonderful product that allows users to fully enjoy the true Web3 experience.
The browser wallet space has been mostly dominated by MetaMask, which mainly focuses on Ethereum-enabled blockchains (ETH) and has not really been developed to meet the needs of DeFi users, the announcement explained.
Other browser wallets like Terra Station Where Ghost were created to support a specific Blockchain. For this reason, DeFi users “end up downloading multiple wallets to interact with different ecosystems at the expense of speed and security,” according to a statement.
As stated in the announcement, the XDEFI Wallet Chrome extension is “designed to deliver the fastest possible experience for DeFi and NFT”.
The statement also mentioned that “unlike its competitors, it achieves this through native integrations with nine blockchains, proprietary gas pricing algorithms to ensure that users never miss a block, and by automatically adding new token deals to them. user portfolios “.
CEO of the XDEFI portfolio, Emile Dubié have noticed :
“In DeFi and NFT, the speed is alpha. The faster you can get into a mint, the faster you can cross the chains, the faster you can sign a deal – these things determine your ability to seize an opportunity or not. XDEFI Wallet was designed to give DeFi users a speed advantage.
Recently. the initiative has completed an invite-only beta with more than 20,000 users and will be “available for public release in early October,” the statement confirmed.
Since its inception in August last year, XDEFI Wallet has successfully grown from a team of just 4 to a team of 25 “with talent previously at Bloomberg, Consensys, B2C2 and Boston Consulting Group”.
XDEFI Wallet will use the product to “launch proprietary integrations with Terra and Solana, and deepen its existing integrations with THORChain, Ethereum and other networks powered by EVM.
The team’s long-term vision is to “create a suite of products connecting different Blockchain ecosystems with the aim of improving accessibility to the best DeFi and NFT opportunities,” the announcement said.
As mentioned in the update, XDEFI Wallet is a browser extension wallet that is “designed to give DeFi and NFT users an edge”. It claims to be the only wallet “with native integrations on THORChain, Terra, Ethereum, and multiple EVM networks.”