Cryptocurrency prediction platform TotemFi raises USD255,000 in strategic funding round
TotemFi, a decentralised finance (DeFi) prediction markets platform for the crypto community, has closed USD255,000 funding round with a roster of strategic investors including DuckDAO, Nabais Capital, LD Capital, Alphabit, Altvest, Moonwhale Ventures, and Bluenode Capital.
CEO Jolyon Layard-Horsfall says: “We couldn’t be happier with the strategic investors we’ve partnered with; each of them brings significant expertise, and comprehensive industry knowledge, to our project. We’ve no doubt that their help, guidance, and deep pools of talent will take TotemFi to the next level, and these strategic partnerships will prove invaluable long into the future.”
The raise follows a successful incubation by DuckDAO, the top decentralised crypto incubator in the space. DuckDAO’s expertise in decentralised fundraising has helped ensure TotemFi’s success during pre-launch, and will continue into the later stages and development of the project.
The roughly 120x oversubscribed strategic fundraising round saw more than USD30 million in interest from thousands of applicants, showing the overwhelming demand for DeFi prediction market providers which feature non-punitive BTC rewards.
CMO Harry Horsfall says: “We want to thank all interested parties who expressed an interest in becoming strategic partners of TotemFi. From an allocation point of view, we had many considerations to take into account, including which contributors would facilitate growth across key geographies, and the depth of experience and expertise which each partner would bring to the project.”
The strategic round forms part of the USD777,000 fundraising cap for the project, of which USD60,750 comes from seed funding, USD360,000 comes from private sale, and USD101,250 will come from the public sale when the project undergoes its IDO.