DeFi.app Overview

DeFi.app, branding itself as "the Robinhood of decentralized finance (DeFi)," has raised $2 million in a seed funding round at a valuation of $100 million.

Mechanism Capital led the round, with Selini Capital, North Rock Digital, and around 50 undisclosed angel investors participating, DeFi.app announced. Founded in 2023, DeFi.app began the fundraising process in the fall and closed last week, as per founder and chief design officer Dan Greer in comments to The Block. This seed round was structured as a simple agreement for future tokens (SAFT), reflecting a fully diluted valuation of HOME, the yet-to-launch native token.

Notably, DeFi.app sold just 2% of HOME's total supply in this round, diverging from the industry trend of providing larger shares to institutional investors. Greer highlighted DeFi.app's commitment to public token sales, intending to allocate at least 20% of the token supply for community distribution. Sale dates have not been finalized.

What is DeFi.app?

DeFi.app aims to simplify DeFi trading while maintaining full self-custody of crypto assets. Greer describes it as a user-friendly "everything app" making DeFi accessible to everyone, even newcomers to crypto.

"The market needs a 10x improvement in user experience," Greer stated, emphasizing the need for a true app to enhance accessibility to DeFi rather than just another Layer 2 or bridge.

With DeFi.app, users can buy tokens on any blockchain, conduct "instant, one-click" cross-chain swaps, and access decentralized derivatives markets and yield opportunities—all without gas fees or the need for bridges. The platform leverages "full-chain abstraction" to eliminate gas fees, uses passkeys and biometrics for secure access, and requires no know-your-customer (KYC) checks.

"Think Robinhood simplicity meets DeFi," Greer noted, aiming to make crypto accessible to the 98% of users still on centralized exchanges.

Competitive Landscape

DeFi.app seeks to compete with both centralized and decentralized trading platforms. Centralized exchanges have over $40 billion in annual revenue but come with custodial risks, high fees, and limited transparency. Meanwhile, some DeFi apps have achieved significant traction, generating millions in daily revenue, such as Photon ($3 million/day), Pump.fun ($2 million/day), and Bonkbot ($1.4 million/day). DeFi.app aspires to surpass these figures post-launch.

Launch Timeline

DeFi.app's public beta is set to go live this month, featuring an esports-themed points tournament with rewards for participants. The mainnet launch, alongside the debut of the HOME token, is set for the first or second quarter next year.

Additionally, the project intends to implement a token airdrop following Hyperliquid's recent success.

DeFi.app currently employs 20 people, with plans to double the team next year to encourage platform growth.

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