veToken Finance completes seed funding to build infrastructure layer for veModel projects
We are excited to announce that veToken Finance has successfully completed seed funding to help expand the team, build a robust infrastructure layer for any project looking to adopt veTokenomics, and help make existing veModel projects more accessible and profitable for the end user.
veToken Finance is a general-purpose yield and bribe protocol, offering enterprise solutions for DeFi projects that are already using or looking to transition to voting escrow tokenomics. We are extremely proud that our seed funding round has attracted so many veritable DeFi degens and value-add angels, including DegenDAO, OWL Ventures, 2x from Fisher 8 Capital, Mr. Block and Issac (Nansen COO), as well as the core team members from Curve, Yearn Finance, Perpetual Protocol, etc.
With their help, we’re very confident about building a thriving ecosystem that enables any DeFi project to permanently lock their governance tokens, generate maximum rewards for their users, and bring unique benefits to both the core team and veToken holders.
Our team continues to add on to the core veToken product stack with new features and functionalities, with the aim to help veProjects seamlessly lock their tokens while providing boosted revenue and bribe opportunities for end users.
As part of our broader ecosystem, the veToken Finance team manages both vemarketcap.com and bribe.vetoken.finance; a continued focus on these resources will help raise awareness on the benefits of the veModel, why it offers the most suitable tokenomics for DeFi projects at large, and how it lets them effectively balance the supply and demand of their governance token — regardless if it’s an AMM, yield aggregator or a lending protocol.
“The Curve veToken model improved its tokenomics by balancing governance incentives and many innovative yield and bribing platforms have been built on top of it. veToken Finance offers the composable tools needed to bring the success of the veToken model to any project in the defi ecosystem. We are excited to work with the veToken team moving forwards.”
— Gareth Fenney — Owl Ventures
“We believe that the veCRV model will continue to be adopted by the wider DeFi community and projects as it helps align participants in the long term. Using veToken’s tool will enable DeFi projects to implement this flywheel and reduce the development time to implement such a program. We’re very excited to support the veToken team in building out this key piece of infrastructure”
— Nick Tong — Perpetual Protocol
“The success of veCRV has inspired multiple protocols to adopt similar ve-model that aligns interest with long term investors. However this model works best with an “incentive layer” (ex. cvxCRV from convex) on top of it, which veTOKEN will play that “convex-like” layer to support all projects that have integrated the ve-model”
veToken will use the proceeds of the seed funding round to expand the team, with a particular focus on product and development. To learn more about veToken Finance, visit https://vetoken.finance.
veToken Finance was created in 2022 with the intent of maximizing rewards without sacrificing token accessibility. veToken looks to continue to adopt new voting escrow projects as they come to market, with an expected initial launch date later this year. veToken enables and encourages governance, reward maximization, and liquidity — all in one place, encompassing a multitude of projects.
You can learn more about veToken Finance at our website below, and join the conversation with our Twitter and Discord communities below as well.
Stay tuned for more to come from the veToken Finance team.