Web3 startups are using the current crypto bear market as an opportunity to build solutions and infrastructure that will be ready for the next wave of adoption.
One such startup, 88x Finance, is a cross-chain yield aggregator that aims to provide services to both retail and professional investors.
The protocol is participating in the Axelar Ecosystem Startup Funding Program, a $60 million startup funding program dedicated to accelerating Web3 protocols.
Yield aggregators use smart contracts to invest crypto assets in yield-paying products and services through automated strategies, similar to having a fund manager in charge of a crypto portfolio.
As crypto becomes increasingly decentralized, with a growing number of blockchain networks and DeFi platforms operating independently of one another, cross-chain yield aggregation will be an important aspect of DeFi in the coming years.
88x Finance intends to provide vault automation strategies and diversification through predefined investment strategies running across multiple blockchains.
This will allow users to enjoy yield farming opportunities on multiple networks through a single interface, without the need to switch between wallets.
Roland is a Public Relations & Communications guru with an immense passion for the blockchain and crypto industry. A fusion of his expertise and passion led to the dawn of Optimisus in 2020.
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