LI.FI is a leading multichain liquidity and data gateway in the crypto industry. The platform provided by LI.FI is an advanced bridge and decentralized exchange aggregator that operates through cross-chain bridging, swapping and messaging to attract new users from everywhere. The platform prides itself as the provider of the easiest way to drive cross-chain strategy through easy access to their API, smart contract interaction and transaction management provided by the platform’s SDK. The LI.FI protocol provides a full cross-chain stack that comes with cross-chain data messaging capabilities and widgets that make it fully plug and play since it provides the simplest way to implement, customize and monetize cross-chain interactions to win users from anywhere. The platform also has a smart routing API to facilitate the best routing of any digital asset on any chain to another asset on another chain therefore, making it a true ant-to-any swap. The firm believes that web3 accessibility should be made available for developers the same way the same is done for users.
To meet its obligations to users, LI.FI has raised $17.5 million to help traditional finance to be able to build on Decentralized finance through a Series A fundraiser round co-led by CoinFund and Superscrypt. Other investors that participated in the fundraiser include Perridon, L1 Digital, Theta Capital and Three Point Capital among many others.
Phillip Zentner, the CEO of LI.FI, lauded this fundraiser while iterating that the firm’s goal is to enable access to any token and order flow across any chain in a manner that brings the next billion users to web3. By creating a middle layer between DeFi infrastructure and decentralized applications that aggregates important factors in DeFi, the platform allows developers to focus on their own value proposition and create a truly multi-chain infrastructure for users. This abstraction created by LI.FI protocol will enable developers and users to move in out out of any position on any chain. This abstraction will also enable stakeholders save valuable resources like time and financial costs involved in research, integration and maintenance of multi-chain infrastructure since they will now be under the purview of LI.FI.
This development comes after a recent research conducted by Bernstein revealed that many market experts believe that finance is headed towards a bank-free decentralized future that will inevitably make DeFi a trillion Dollar asset industry that is set to generate revenue in excess of $40 billion by the year 2028. The report also indicated that the sustainability, scalability and transparency being witnessed will improve the token economy and revive the industry leaving LI.FI at a prime position to spearhead this change. Despite the prevailing conditions in the bear market, LI.FI has managed to aggregate liquidity and create early growth.
LI.FI has therefore quickly earned a reputation in aggregation of cross-chain liquidity considering the fact that it handles up to 96% of cross-chain activity on Metamask. The firm also recently launched Jumper.Exchange, a multi-chain exchange interface that allows qualified users to exchange any digital asset with another on any chain with a simple click. At the blockchain and web3 sectors continue to garner adoption from users and developers, the inflow of activity will certainly lead to development of many blockchain networks all operating on different industries and economies. One major problem that could arise from this is the interoperability of these different networks . LI.FI is providing the most efficient solution by aggregating the cornerstones of DeFi and developing a bridge to facilitate cross-chain activity among these blockchain networks therefore, giving the firm an opportunity to revolutionize the web3 sector.
