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Daily Markup #670: ZaynFi raises US$600K to open up the world of decentralized finance (DeFi) to the masses

January 30, 2023 · 2 min read
Credit: e27

Simplifying DeFi for the masses

  • If understanding and using decentralized finance (DeFi) for the first time seems daunting and complex to you, 500-backed ZaynFi feels you and wants to open up DeFi to the masses. The team aims to  enable first-time users to utilize and benefit from DeFi products and services, as well as attract halal-conscious offerings as it ensures it complies with shariah principles.
  • ZaynFi is a stablecoin yield optimizer on the Build N Build (BNB) Chain, and the team raised US$600,000 in a funding round led by Cur8 Capital, the venture investing arm of UK-based Islamic Finance Guru, with participation from 500 Southeast Asia.
  • Founded by Syakir Hashim and Aziz Zainuddin, ZaynFi is a DeFi protocol that helps users stake stablecoins safely and simply for top-of-the-range returns on the Binance Chain. According to the company, it enables trades to happen while users earn trading fees and rewards.
  • Co-founder & CEO Syakir Hashim shared that ZaynFi will be using the funds to expand its engineering team and build new vaults, allowing users to stake other cryptocurrencies and build a strong community of ZaynFi users.
  • A public beta has been rolled out exclusively for ZaynFi’s 88,000-strong Telegram Community members.
  • “We are here to help existing DeFi users and the masses come onboard the world of DeFi and bring a new wave of liquidity to decentralized exchanges. This will be achieved through ZaynFi’s end-to-end service, which takes care of Liquidity Pool selection, depositing into Liquidity Pools, staking LP Tokens and switching to better-performing Liquidity Pools from time to time,” Syakir explained.
  • Congratulations to the ZaynFi team and welcome to the 500 community!
  • Read the full story on e27.
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