A DeFi protocol backed by Winklevoss Azura has gone live after securing a $6.9 million funding round from Initialized and other venture capital firms like VoltCapital, Winklevoss Capital, Alliance, Meltem Demirors, and several others.
Described as an all-in-one crypto aggregation layer, Azura is designed to bring millions of potential users into the world of decentralized finance. At its core, the platform lowers the entry barrier for all new investors, allowing them to get started and trade any crypto assets using DeFi apps.
Azura will support all blockchains and protocols
In an October 22 post, the team says Azura will support all blockchains and protocols. This strategic posture strengthens its capacity to aggregate every form of decentralized infrastructure. More so, by embracing a simple approach, Azura is poised to deliver the major benefits of DeFi to every user.
Azura seeks to bring all the fundamentals of Dapps under a single app. By combining cutting-edge technologies, it eliminates the complexities in non-recoverable seed phrases or the need to set up multiple addresses.
The protocol also explained how DeFi app fragmentation has been a major threat to its adoption. Describing it as a significant barrier to adoption, Azura said this issue tends to discourage newcomers from harnessing the powers of decentralized applications to maximize their investments.
Meanwhile, one of the major backers of the project – the Winklevoss twins – are successful American entrepreneurs and passionate innovators. They co-founded HarvardConnection and boast a combined net worth of $6 billion. The twins are also the co-founders of Gemini, a top-tier crypto exchange, and Winklevoss Capital Management, a venture capital.
Recently, they sued Facebook founder Mark Zuckerberg, claiming he stole their idea to develop a social networking platform. Through the case, they earned over $65 million.
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