Don-key Raises $2.2 Million to Create Yield Farming Social Platform
We’re pleased to announce that Don-key has completed a private funding round to bootstrap our social yield farming platform. $2.2 million was raised in a round from leading blockchain funds, including, Black Edge Capital, AU21. Genesis Block Ventures, Spark Digital, Solidity Ventures, MoonWhale, and Morningstar Ventures.
Don-key Delivers More Bang for Your Buck
Yield farming is the craze that’s taken the DeFi world by storm. Over the past 12 months, the number and complexity of yield farms has soared, as have the number of blockchains that now support liquidity mining. Farming is not for the faint-hearted or tech-averse however: it’s a hazardous pursuit that calls for negotiating constantly fluctuating APYs, mitigating impermanent loss, enduring smart contract risk, and frequently entering and exiting positions.
On paper, yield farming sounds like a simple way to earn a passive income from your crypto holdings. In practice, it’s a full-time job with a steep learning curve, executed in a perilous environment where a single mistake can prove costly. But enough about the downside to yield farming: Don-key is all about maximizing the upside by making it easier for humble investors and farmers to generate consistent yield, whatever their ability level.
This will be achieved by bringing liquidity providers and yield farmers together on the Don-key.finance platform, where gamified social trading strategies will incentivize participants to work together and reap the spoils. Don-key will do for yield farming what social (or “copy”) trading has done for cryptocurrency trading.
Key features will include:
- Copy farming: Learn and auto-invest on the latest farming opportunities by following top farmers and browsing Don-key’s leaderboard .
- Strategy Builder: Drag-n-drop interface to easily plan and optimize different farming scenarios.
- Farmer reputation based on proven APY results and historical track record.
- Investor reputation will enable top participants to unlock extra levels and access the highest alpha opportunities.
- Tokenized rewards for top farmers and liquidity providers.
- Non-custodial pools to save substantial gas by pooling investments with
other investors utilizing the same protocols.
Founded in 2017, Black Edge Capital is one of the leading investment funds in the space, specializing in blockchain infrastructure, DeFi, and NFT projects. Their investment portfolio includes Synthetix, Reserve Rights, Tomochain, Injective Protocol, SuperFarm, Ethernity Chain and Kira, from a total of over 50 investments.
Leading blockchain incubator whose portfolio reads like a who’s who of crypto. The Graph, Polkadot, Cere Network, Elrond, and Binance are just some of the blockchain companies AU21 have backed.
Genesis Block Ventures’ recent acquisition of OMG is testament to their commitment to supporting blockchain infrastructure and broadening the overall crypto ecosystem. Their investment portfolio also includes Serum, Alpha Finance, MahaDAO, Linear Finance, and SuperFarm.
Spark Digital Capital is an innovative VC with a strong presence in Asia. Spark’s investment portfolio includes The Graph, Elrond, Stafi, Frontier, 1inch and SuperFarm, among many others.
A dynamic VC focused on incubating and investing in projects that add value to the Ethereum ecosystem. Solidity Ventures investment portfolio includes SuperFarm, Ethernity Chain, API3, Union Finance, HOPR, and Oiler Network.
MoonWhale is a DeFi and NFT incubator with extensive connections in the crypto space. MoonWhale’s portfolio includes spl.yt, Public Mint, Celsius, Centrifuge, Razor, Orion, SuperFarm, Fractal and many more.
Morningstar Ventures is a digital assets investment arm backing disruptive ideas and founders across the crypto ecosystem. Some of Morningstar’s most recent investments include Polkastarter, Exeedme, Polkamarkets, Chain Guardians, and Public Mint.
Lite Paper: https://don-key.finance/litepaper.pdf