Cross-chain aggregation protocol LI.FI raises an additional $29 million to become a one-stop DeFi platform?

Question

【Blockchain Rhythm】The crypto aggregation protocol LI.FI has recently secured additional funding, raising $29 million in this round, led by Multicoin and CoinFund. Including previous rounds, they have raised approximately $52 million in total.

The company primarily focuses on cross-chain transaction aggregation, simply helping users swap coins and transfer assets between different blockchains. Now, they want to expand their business scope — exploring perpetual contracts, yield farming, prediction markets, and lending. The new funds will be used for hiring, as they need to grow their team to handle these new initiatives.

Founder Philipp Zentner revealed that they are now profitable, with main revenue coming from transaction fee sharing. However, he didn’t specify exactly how much they’re earning. The data looks impressive — in October alone, their trading volume reached $8 billion, seven times higher than the same period last year. Currently, the team consists of over 100 members.

Starting from cross-chain bridges and now aiming to build a DeFi aggregation platform, LI.FI has big ambitions. Competition in this space is fierce, and it remains to be seen whether they can leverage this funding to expand their footprint.

GateUser-e19e9c10 · Accepted Answer

One-stop platform slogans are really enough, but the fee sharing part is indeed solid. An 8 billion monthly trading volume shows that users are willing to pay.

AirdropHunterXiao · Answer

$8 billion monthly trading volume. This growth is quite rapid, but can they really sustain such expansion across so many sectors?

NFTHoarder · Answer

Another industry insider emerges, pouring over $50 million and still focusing on perpetuals, mining, and lending... Is this a one-stop shop for DeFi?

GasFeeAssassin · Answer

80 billion in monthly trading volume sounds impressive, but not every project that burns money to expand can survive until the day they turn profitable.

MetaMasked · Answer

An 8 billion trading volume is indeed impressive, but the one-stop platform has seen too many similar tricks. Focusing on doing cross-chain well is already good enough.