Genius Yield develops an app on the Cardano blockchain that uses artificial intelligence to manage digital assets aiming to provide high returns while minimizing risk for investors. The funds from the seed round will flow into product development. The launch of Genius Yield’s first product, a decentralized exchange (DEX), is set to go live in Q2 2022. It will be followed by the company’s main application, a yield optimizer in Q3 2022.
Genius Yield, the decentralized exchange, and yield protocol based on Cardano has raised over $4.2 million dollars from investors within four weeks, during their first seed round, which closed on November 1st. Investors in this round of fundraising included Master Ventures, Genblock Capital, CSP DAO, Sneaky Ventures, Cardano Syndicate, ipor.io, Bloctech Investment Group, Kernel Ventures, Blue Node Capital, Valhalla Capital, and Oracles Investments Group.
The Genius Yield platform is a DeFi asset management solution which will be implemented on the Cardano blockchain, aiming to provide superior yield optimization and high returns to investors. Genius Yield has developed an AI-powered Smart Liquidity Management protocol that algorithmically automates asset allocation to maximize a user’s Annual Percentage Yield (APY) while minimizing risk exposure. In addition, Genius Yield will create the Genius Academy, a community-driven educational and mentorship platform, to assist novice DeFi users,
Behind Genius Yield is an experienced team from Switzerland, Germany, and the USA. The founders are one of the first teams to develop a yield optimizer powered by the Cardano blockchain. According to Sothy Kol-Men, Co-Founder and Managing Partner of Genius Yield, Cardano offers clear advantages over Ethereum including significantly lower transaction costs. “The team is currently working on a prototype. We are making good progress,” explains Sothy Kol-Men. Going live is planned for the second quarter of 2022.
(Stefan Kyora)
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