HONG KONG, CHINA / ACCESSWIRE / September 21, 2020 / A dozen leading VCs focused on emerging blockchain technologies have participated in the private round of RioDeFi's token sale. The 12 VCs that participated in the round include Kenetic, Moonrock Capital, and Consensus Lab. News of the VC round arrives as the RioDeFi community gears up for the public sale of RFUEL, the network's native token.
The RFUEL public sale is currently more than 3x oversubscribed due to strong interest from OM holders, who are members of MANTRA DAO, the first project to build on RioDeFi's Substrate framework. The participation of 12 of the industry's preeminent VCs further attests to the interest in RFUEL, RioDeFi, Polkadot, and defi in general. Investors from Asia and the US are among the firms to have acquired an allocation of RFUEL and pledged their commitment to RioDeFi.
James Anderson, RioDeFi CEO, said:"To bring blockchain and cryptocurrencies to the masses, we have surrounded ourselves with institutional partners who have a long term commitment to the space. We all share one common, simple vision: decentralized financial services accessible to everyone."
Jonathan Habicht, Managing Partner at Moonrock Capital, said: "RioDeFi has all the right components to not only perform very well within the crypto space but also gain interest from users and investors outside of this industry. RioDeFi's technology is truly impressive and matches the team's vision, ambitions, and knowledge. We are excited to support RioDefi on their mission to create a successful DeFi platform used by individuals worldwide."
Ron Sade, managing partner at Brilliance Ventures, added:
"We are a big proponent of interoperable blockchain. We believe cross-chain technology is a way to expand the potential of existing networks and an opportunity to spur the level of adoption of this technology to new heights. RioDeFi's value proposition and product line is totally aligned with this vision."
RioDeFi's token sale comes at a time when interest in decentralized finance and in Polkadot is at an all-time high. The RFUEL token will align incentives between participants in the defi ecosystem RioDeFi is building. A focus on onboarding mainstream users includes the development of a mobile wallet that can interact with fiat and crypto assets across multiple chains, and RioChain, a high speed Polkadot parachain.
Kyle Chasse, CEO at Master Ventures, said: "The last few weeks have witnessed a surge in the level of attention garnered by Polkadot. The current difficulties experienced by Ethereum network to support fast growing DeFi services make the need for interoperable blockchain more apparent every day. We believe that RioDeFi is ideally positioned to address this issue."
The 12 VCs that have participated in RioDeFi's private round are as follows: Kenetic, Moonrock Capital, Master Ventures, Brilliance Venture, Mapleblock Capital, Amplifi Capital, Signal Ventures, Vendetta Capital, Consensus Lab, Plutus VC, Merkle Capital, and AU21. These companies are responsible for billions of dollars of crypto investments and have a track record for identifying and nurturing high growth blockchain companies. They are committed to supporting RioDeFi in its goal to bring decentralized finance to a global audience.
RioDeFi is a blockchain technology company that aims to bridge the gap between traditional and decentralized finance. RioDeFi's key technology is RioChain, a network that is designed to support high performance financial applications. RioChain is built on Parity Substrate, which enables cross-chain interoperability. This means it can interact with assets of other blockchains such as Bitcoin and Ethereum.
Find out more: riodefi.com
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