Idle, an on-chain credit income platform, completes a strategic round of financing of US$1.1 million, led by RockawayX

BlockBeats news, on July 9, the on-chain credit and yield platform Idle announced the completion of a $1.1 million strategic round of financing, led by investment company RockawayX and participated by Fasanara Digital. As of now, Idle's total financing has reached $2.4 million.

The company plans to use the funds to further develop on-chain credit infrastructure, etc. According to reports, Idle is a decentralized autonomous organization (DAO) that provides yield automation and hedging tools for the decentralized finance (DeFi) market. The platform has accumulated $300 million in liquidity and a trading volume of more than $2 billion.

Idle previously raised $1.2 million in a seed round of financing led by Gumi Cryptos Capital in November 2020.