Zyfi Secures $2 Million in Private Funding to Revolutionize DeFi Transactions
In a significant development for the decentralized finance (DeFi) space, Zyfi has successfully raised $2 million in a private funding round to advance DeFi transactions on zkSync. The company, known for its innovative Paymaster-As-A-Service platform, is set to revolutionize the way users interact with blockchain protocols.
One of Zyfi’s key features is its utilization of native account abstraction on zkSync, which allows for flexible gas payments with any ERC-20 token. This groundbreaking technology simplifies transactions and democratizes access to DeFi products, eliminating the barriers typically associated with Ethereum gas fees.
The funding round saw participation from top venture capital firms, including Everstake Capital, Criterionvc, NxGen, Majinx Capital, v3ntures, Momentum8, Tenzor Capital, and Apvc.capital. This strong show of support underscores the industry’s confidence in Zyfi’s vision and technology.
Zyfi’s platform has already facilitated over 815,000 transactions and served more than 110,000 users on zkSync. By integrating with major protocols such as Zerolend and Pancakeswap, Zyfi is making significant strides in enhancing the on-chain experience for DeFi users.
Gauthier Vila, Founder of Zyfi, expressed his dedication to addressing key challenges in the DeFi ecosystem and empowering developers to create seamless experiences for users. With Zyfi’s technology, developers can focus on enhancing their products without getting bogged down by blockchain protocols.
Denys Vashchuk, General Partner at Everstake Capital, praised Zyfi for accelerating zkSync adoption and enabling developers to prioritize innovation. He highlighted Zyfi as the go-to tech stack for dApp developers, supported by a strong team, technology, and vision.
Looking ahead, Zyfi plans to use the funds to develop software development kits (SDKs) and enhance its paymaster services. The company also aims to explore and implement new blockchain standards like EIP-7702, advocating for broader account abstraction across all chains.
With Zyfi’s innovative approach to DeFi transactions and strong backing from leading venture capital firms, the future looks promising for the company as it continues to push the boundaries of what is possible in the DeFi space.
