According to , DeFi Platform 1inch recently raised $12 million in a Series A funding round. The funding round was led by Pantera Capital, with participation from a few other firms.
In one year, 1inch has developed rapidly, exceeding $6 billion in total volume. Now, the DeFi platform said the secured funds would be used to expand 1inch’s project. Over the past few months, the DeFi space has grown significantly with the introduction of DeFi apps. The DeFi space has recorded gains over time and is currently worth nearly $15 billion.
Speaking to Decrypt, the CEO and co-founder of 1inch Sergej Kunz commented on the just-concluded funding round. He said:
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