Cryption Network, a crypto platform built for retail traders, announced it had completed its private funding round, which raised $1.1 million.
The funding round attracted numerous investors, including CMS Holdings, GravityX Capital, Master Ventures, GenBlock, Ascensive Assets, X21 Digital, AU21, WaterDrip Sandeep Nailwal of Polygon, and Humayun Sheikh of Fetch.ai. Notably, the funding round was led by Master Ventures, GravityX Capital, and CMS Holdings.
Tejas Chitnis, CEO of Cryption Network, explained:
“We are humbled to have received such unprecedented demand from investors and support for the ecosystem. This round illustrates a high degree of confidence in our project from the crypto community and validates our vision for Cryption Network and DeFi moving forwards.”
The Cryption Network was created for normal retail investors who want to invest in crypto but are intimidated by its complexity and volatility. The platform also seeks to make it easier for retail traders to navigate through decentralized finance easily.
Cryption Network is an integrated ecosystem with a focus on layer-2. The platform has numerous features, including gasless transactions, decentralized, scalability, security, sound tokenization, and seamless integration. Cryption’s products include Elastic Farming, PolyDEX – L2 Swap, and a Seer-Prediction Market. The Seer Predcitcion product will allow users to read and create predictions on any topics of their choice. The tool will also enable high-frequency traders with average gas fees.
The platform will also have Ether Rush that will be an on-off ramp. This tool will use innovative algorithms to determine the price of assets based on liquidity, the volume of trade, and other factors. Reportedly, the Ether Rush is one of the most coveted tools on the platform that has the power to disrupt the crypto landscape.
Another thing to note is that Cryption also supports non-fungible tokens (NFTs). The platform enables Ethereum users to utilize diverse defi primitives launched on the Polygon blockchain through its dedicated network.
In the coming days, the platform plans to launch the Cryption app on android and iOS, which will act as a wallet and a dApp browser for both Ethereum and the Polygon network. The app will reportedly focus on getting non-crypto users into using dApps.
Notably, to facilitate new users, the platform is making arrangements to pay for the gas fees on Polygon to improve user experience and allow users to use blockchain apps seamlessly.