DeFi aggregator Bella Protocol has raised $4 million in a seed funding round led by Arrington XRP Capital, according to a press release issued on August 25.
- Bella Protocol is designing an all-encompassing platform that covers a range of DeFi services
- The aggregator is using a “hybrid approach to lower DeFi participation” to avoid the need to hop between different protocols
- Arrington XRP Capital is an established digital asset management firm which counts Algorand (ALGO), Ampleforth (AMPL), BlockFi, Certik, Nexo, Telegram, Unus Sed Leo (LEO) and XRP as part of its portfolio
- Michael Arrington, founding partner of the lead investor, said that Bella Protocol was aiming to solve the 3 big problems of DeFi - “high gas fees, complex user journey and poor user experience”
- Alphabit, CGS Dubai, Consensus Labs and Force Partners also participated in the funding round
- Bella Protocol follows another DeFi data aggregator which just completed a $15 million funding round, DIA
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