Enso raises $5 million from top funds and YFI price hits a new record high as the demand for DeFi yield rises.
The appetite for DeFi is rising again as blue chips are rallying and yield-earning strategy-sharing platforms, like Enso, are on the rise.
Enso, a platform where users can share yield-earning strategies, raised $5 million on April 13 from top US venture capital firms including Polychain Capital and Multicoin Capital.
Synthetix (SNX) founder Kain Warwick, Aave founder Stani Kulechov, Dfinity COO Artia Moghbel, and other prominent angels took part in the round.
The high-profile fundraising round comes as Yearn.finance (YFI) achieved a new all-time high above $50,000.
Why is the demand for yield-earning protocols rising?
Protocols like YFI are seeing significant demand once again as DeFi blue chips start to rally off of Bitcoin (BTC) and Ether (ETH) hitting record highs.
The appetite for high-risk and high-return plays is clearly increasing, as the cryptocurrency market as a whole enters price discovery.
YFI tops yield TVL rankings.