Home / Business and Economy / YO Labs Secures $10M for Cross-Chain DeFi Yield Optimization
YO Labs Secures $10M for Cross-Chain DeFi Yield Optimization
16 Dec
Summary
- YO Labs raised $10 million in Series A funding to expand its crypto yield platform.
- The protocol optimizes crypto yield across multiple blockchains using a novel architecture.
- YO Labs' system minimizes bridge risk through independent 'embassy' vaults on each chain.
YO Labs has successfully raised $10 million in a Series A funding round, spearheaded by Foundation Capital with participation from Coinbase Ventures, Scribble Ventures, and Launchpad Capital. The development team behind the YO Protocol aims to leverage this capital to broaden its yield optimization platform's reach across additional blockchains and bolster its underlying infrastructure.
The YO Protocol is engineered to enable users to generate yield on their crypto assets. It achieves this by intelligently rebalancing capital across various decentralized finance (DeFi) protocols while meticulously assessing risk. A key innovation is its cross-chain functionality, which differentiates it from single-chain aggregators by establishing independent "embassies" or vaults on each blockchain to hold native assets, thereby reducing bridge-related risks.
This architecture, coupled with a sophisticated 'DeFi Graph' for monitoring dependencies and mitigating risks during market volatility, allows YO Protocol to offer a more secure and efficient approach to yield generation. The $10 million in new funding brings YO Labs' total raised to $24 million, positioning the company to provide core infrastructure for fintechs and developers seeking to integrate sustainable yield into their offerings.
