On the ranking list of the Kaito Pre-TGE project, a Defi App (yes, that's the name of the project) has consistently ranked in the top 10 in terms of attention. Since opening public testing on February 13, it has attracted over 37,000 users.
The project is committed to integrating all DeFi functions into a unified platform, greatly simplifying the DeFi operation process, and allowing more people to get started easily. At the same time, its token $HOME is expected to have its TGE in the second quarter of this year, which is also an opportunity worth attention for users interested in participating in the airdrop.
What is a Defi App?
Defi App positions itself as the Robinhood of the DeFi world, creating a one-stop DeFi platform to make DeFi simple and accessible for everyone. Its core functions include:
- In addition to wallet login, it also supports login via Discord, X, Gmail, and FB
- Transactions are Gas-free (the official says they will currently subsidize it), no KYC required, and no need for cross-chain bridges
- It will launch an AI assistant, allowing users to complete DeFi operations through text conversations
- Supports fiat currency purchase of crypto assets
- Ensures user asset self-custody
This not only makes it user-friendly for beginners, but also helps traditional DeFi users manage their assets and transactions more efficiently.
Functions
In terms of functions, Defi App currently supports token swaps on any tokens on EVM (Ethereum, Arbitrum, BNB Chain, Base) and Solana chains, and also supports cross-chain swaps. In addition, its investment portfolio management interface is similar to the Rabby wallet, and it provides a function to sort assets by value, allowing users to manage their assets more intuitively.
Since its launch about a month ago, Defi App has cumulatively processed over $600 million in transaction volume. In the future, it plans to launch more features, including:
- Yield farming: Providing the most optimal yield liquidity pools, eliminating the tedious process for users to search and select
- Leveraged trading
- Lending
- AI-driven trading: Launching an AI assistant to provide market insights and help users capture opportunities and easily complete transactions
In addition, the official plans to launch a mobile app in the second quarter of this year to further enhance the user experience.
Financing
Defi App has raised a total of $6 million at a $100 million valuation:
- In December 2024, it successfully raised $2 million (2% of its total HOME token supply) at a $100 million valuation, led by Mechanism Capital, with participation from Selini Capital and North Rock Digital.
- In February 2023, Defi App raised an additional $4 million in a seed expansion round, with $2 million led by Mechanism Capital, and participation from DCF Capital Partners and well-known angel investors like former Coinbase CTO Balaji Srinivasan (@balajis) and @Pentosh1; the remaining $2 million was invested by Comfy Capital and the George Beall team from the financing platform Echo.
Team
The Defi App team is composed of seasoned experts in the Web3 and fintech fields, with members having previously worked at well-known companies like Robinhood, Coinbase, and Lyft.
Co-founder: Dan Greer (@0xUxDesign) - former founder of the crypto trading automation platform Signal, which was later acquired by Shopify, and was also an early employee at the crypto asset management platform Zapper.
Chief Engineer: Ajdin Kahrović (@ajdinkahrovic) - former senior blockchain engineer at Radiant Capital.
Community Manager: Doran Mauldin (@doranmaul) - former community manager at Wormhole.
Other team members: @nuage_de_coton, Liberta Phoenix (@libertaphoenix, lead moderator), @yueya_eth (Asia-Pacific region)
How to Participate
1) Use Defi App to deposit and trade, earning XP points
- Joining the top 50 ranked camps can enjoy a 40% XP bonus.
- Inviting friends can earn 10% of their XP.
2) Post content related to Defi App, participate in discussions, and interact with official accounts on X, which can also earn airdrop opportunities. Because Defi App has landed on the Kaito Pre-TGE arena, it will conduct airdrops for Yappers.
3) Join Discord and obtain identities.
Conclusion: Has the iPhone moment for DeFi arrived?
Defi App takes intuitive and simple user experience as its core, and calls for the "iPhone moment of DeFi", trying to change the development of DeFi, making it more accessible and impactful. However, whether this vision can be realized still faces huge challenges, and it is worth observing whether it can effectively reach CEX and traditional finance users. If it succeeds in breaking out, it may be a turning point for mass adoption of DeFi.
It is worth noting that there are more and more projects in the market trying to build a one-stop DeFi platform and aggregate the liquidity of the entire chain, such as the Flyingtulip (founded by the "DeFi godfather" Andre Cronje) introduced in the BlockTempo Alpha series, Jupiter (the largest DEX aggregator on Solana), and UniversalX, which shows a new competitive trend.
In this race, whether DeFi Apps can stand out will depend on their technical strength, market acceptance, and unique advantages. For users, the best strategy may be to try different protocols and find the application that best suits their needs.
