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‘MetaMask Challenger’ XDEFI Wallet Secures $6 Million To Scale Its Next-Generation DeFi Wallet

'MetaMask Challenger' XDEFI Wallet Secures $6 Million To Scale Its Next-Generation DeFi Wallet


September 29, 2021 – London, England


XDEFI Wallet, a next-gen browser wallet, is proud to announce a $6 million round led by Mechanism Capital with participation from DeFiance Capital, Alameda Research, Sino Global Capital, Animoca Brands, Morningstar Ventures, CoinGecko and some of the world’s top DeFi users including Darren Lau (The Daily Ape), Mark Zeller (Aave), Scoopy Trooples and Mariano Conti.

Andrew Kang, the general partner of Mechanism Capital, said,

“The crypto landscape has gone through immense change in the last year through the explosion of DeFi, NFTs and multichain ecosystems. We are excited to back the XDEFI team, which built a beautiful product for users to take full advantage of the true web 3.0 experience.”

The browser wallet space has been dominated by MetaMask, which is solely focused on Ethereum-compatible chains and was not built to cater to DeFi users’ needs. Other browser wallets such as Terra Station or Phantom were developed to support a specific blockchain. As a consequence, DeFi users end up downloading several wallets to interact with different ecosystems at the expense of speed and security.

XDEFI Wallet’s Google Chrome extension is engineered to deliver the fastest possible experience for DeFi and NFTs. Unlike its competitors, it achieves this through native integrations with nine blockchains, proprietary gas pricing algorithms to ensure users never miss a block, and by automatically adding new token contracts to users’ wallets.

Emile Dubié, CEO of XDEFI Wallet, said,

“In DeFi and NFTs, speed is alpha. The faster you can get into a mint, the faster you can move across chains, the faster you can sign a transaction – these things determine your ability to seize an opportunity or not. XDEFI Wallet has been built to give DeFi users a speed edge.”

The project recently completed an invite-only beta with over 20,000 users and will be available for public release in early October here.

Since its inception in August 2020, XDEFI Wallet has scaled from a team of four, to a team of 25 with talents previously at Bloomberg, Consensys, B2C2 and Boston Consulting Group.

XDEFI Wallet will use the funds to launch proprietary integrations with Terra and Solana and deepen its existing integrations with THORChain, Ethereum and other EVM-powered networks. The team’s vision long-term is to create a suite of products bridging different blockchain ecosystems together in an effort to improve accessibility to the best DeFi and NFT opportunities.

About XDEFI Wallet

XDEFI Wallet is a browser extension wallet that is engineered to give DeFi and NFT users an edge. It is the world’s only wallet with native integrations on THORChain, Terra, Ethereum and several EVM networks.

Contact

Christine Janumala, ecosystems lead at XDEFI Wallet

This content is sponsored and should be regarded as promotional material. Opinions and statements expressed herein are those of the author and do not reflect the opinions of The Daily Hodl. The Daily Hodl is not a subsidiary of or owned by any ICOs, blockchain startups or companies that advertise on our platform. Investors should do their due diligence before making any high-risk investments in any ICOs, blockchain startups or cryptocurrencies. Please be advised that your investments are at your own risk, and any losses you may incur are your responsibility.

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