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Odaily Translator | Nian Yin Si Tang

Summary:

Summary:

-The new DeFi platform Exponential has received investment from FTX Ventures, Paradigm and Haun Ventures.

- The startup, founded by former Amazon and Uber veterans, announced a $14 million seed round.

According to an article by the companyblog postblog post

Other high-profile investors include FTX Ventures, Haun Ventures and Circle Ventures, as well as more than 80 angel investors including Balaji Srinivasan, Anthony Pompliano and Elad Gil, the company said.

The startup's founders, former Amazon and Uber veterans, wanted to simplify DeFi investing so it's easier to spot, evaluate, and invest in income opportunities.

Exponential CEO and co-founder Driss Benamour previously served as head of fintech products at Uber, while Exponential co-founder and CTO Greg Jizmagian worked at Amazon for more than five years, helping Amazon build its voice grocery shopping business.

Therefore, Exponential hopes to bridge the gap between Web2 and Web3, making it easier for users to invest in DeFi protocols through its platform. “DeFi tools will be at the fingertips of Exponential users,” the company said in a blog post.

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market situation

It’s worth pointing out, though, that decentralized finance is a different story altogether compared to the consumer apps offered by Amazon and Uber.

Risk appetite for decentralized financial products has shifted in recent months as individual investors grapple with macroeconomic headwinds ranging from rising interest rates to soaring inflation. There has also been an increase in high-profile hacks, in which investors have lost significant amounts of money.Likewise, venture capitalists have become less active in the DeFi market.According to data from The Block Research

, There were only 15 investment and financing transactions in August, which is the lowest frequency of DeFi transactions since January 2021.

It is understood that Exponential has responded to this change in risk appetite through a service called "rate my wallet". This helps analyze the risk profile of an individual's current investments and suggest better alternatives.According to thecompany website says