Retail DeFi Startup Crypto Network Raises $ 1.1 Million In Private Round

May 25, 2021 – Tortola, the British Virgin Islands Cryption Network, an easy-to-use DeFi platform designed for retail users, has completed its final funding round after collecting $ 1.1 million. The project welcomed the investments of a large number of incumbent private investors, including Master Ventures, CMS Holdings, GravityX Capital, and GenBlock. Additional capital came from angel investors such as Ascensive Assets, X21 Digital, AU21, WaterDrip and Polygon co-founder Sandeep Nailwal and Fetch.ai CEO Humayun Sheikh. The tour was co-led by Master Ventures, GravityX Capital and CMS Holdings. Tejas Chitnis, CEO of Cryption Network, said: “This cycle shows that the crypto community has a high level of trust in our project, and the development of Cryption Network and DeFi confirms our vision. We are honored to have received such an unprecedented demand from investors and ecosystem support. Cryption Network offers a range of products for retail investors who are alienated from the complexity and volatility of the crypto market, as well as the weak spots of decentralized finance. As an integrated Layer 2 driven ecosystem, Cryption's products include PolyDEX – L2 Swap, Elastic Farming, and a psychic prediction marketplace, as well as its own mobile app on iOS and Android. Crypt also supports NFTs. The platform allows Ethereum users through its private network to use various DeFi primitives launched on the Polygon blockchain. Therefore, users can take advantage of innovative solutions and products without actually moving blockchains. This allows innovators and developers around the world to participate in open innovation without having to face high network congestion and excessive fees. The Cryption app works as a digital wallet and DApp browser for Ethereum and Polygon and is designed to provide a seamless login for new users. For this purpose, Cryption will completely eliminate gas costs and allow users to use blockchain applications.

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