Odaily Frontline｜APY.Finance, an intelligent liquidity mining aggregator, raised $3.6 million

This article comes fromThe Block, by Yogita Khatri

Odaily Translator |

This article comes from

, by Yogita Khatri

Odaily Translator |

APY.Finance, an intelligent liquidity mining aggregator, announced on Monday that it has completed a $3.6 million seed round of financing. Investors include Arrington XRP Capital, Alameda Research, Cluster Capital, CoinGecko, and Parafi Capital partner Santiago Roel Santos. Funds from this round will be used to develop the platform, perform audits and risk insurance.

APY claims to be building a “Wealthfront in Yield Farming,” or robo-advisors that help optimize token lending for risk-adjusted returns. With the new capital in place, APY plans to accelerate the development of its platform and launch it in mid-October.

Currently, Yearn.Finance is the main Yield Farming aggregator in the DeFi space. When asked what APY’s competitive advantage is, APY.Finance COO Delos Chang told The Block that the protocol offers more than “simple wrapped strategies.”

According to Chang, “Currently, Yearn is running wrappers around farming strategies such as CRV Farming (Vault for Yield Through Automated Sales), and APY will route and diversify between strategies based on the risk perception of the application. So , and eventually Yearn Vaults could be one of the tactics used by APY, but not the other way around."Will Shahda, CEO of APY.Finance, said that from a user’s perspective, APY is a dashboard with a separate place for stablecoins. This will help users run many strategies and optimize allocations between them, he added.APY.Finance also plans to release its native governance token, APY, and launch a liquidity mining program in the coming weeks. according to

According to previous reports,, according to the announcement, the public sale of APY tokens is expected to start this month and will be in the form of an “Initial DEX Token Offering (IDO).”According to previous reports,