TechFlow news, on December 5, according to The Block, DeFi project DeFi.app announced the completion of a $2 million seed round at a $100 million valuation. The funding was led by Mechanism Capital, with participation from Selini Capital, North Rock Digital, and approximately 50 angel investors.
DeFi.app founder and Chief Design Officer Dan Greer said that the fundraising process began this past fall and closed last week. This seed round used a Simple Agreement for Future Tokens (SAFT) structure, and the $100 million post-money valuation reflects the fully diluted valuation of HOME, DeFi.app's yet-to-be-issued native token.
Notably, unlike the industry trend of allocating large portions to institutional investors, DeFi.app sold only 2% of the total HOME token supply in this round. Greer stated that DeFi.app places greater emphasis on fostering community participation through a public token sale, planning to allocate at least 20% of the token supply to the community. The specific date for the public sale has not yet been determined.
