Yei Finance has successfully raised $2 million in seed funding to advance its lending platform.
The funding round was led by Manifold and included investors such as DWF Ventures, Kronos Research, Outlier Ventures, Side Door Ventures, and WOO. Notable industry figures like Matt Dobel and 0xZHUANG also contributed to the funding. The Sei Foundation was acknowledged for its support.
This funding will support the development of Yei Finance's upcoming version, V2, which aims to improve the decentralized lending ecosystem through cross-chain innovations. Yei Finance has already achieved a total value locked of $130 million since its launch in June 2024.
The forthcoming V2 of Yei Finance will introduce modular lending markets, a dedicated app chain, and an omnichain money market. These features will enhance user experience, scalability, and capital efficiency across multiple blockchains. Yei Finance is focused on creating a user-centric design and aims to simplify the borrowing and lending process.
The platform also plans to implement smart routing for cross-chain lending and a liquidation framework to mitigate risks. Yei Finance's initiatives contribute to the overall development of the DeFi ecosystem and position the platform as a key player in the omnichain lending space.