DeFi asset management protocol Velvet completes $3.70 million financing round, with participation from YZi Labs and others

DeFi asset management protocol Velvet Capital has announced the completion of a $3.70 million funding round, with participation from YZi Labs and Blockchain Founders Fund, FunFair Ventures, Selini Capital, Mucker Capital, PAKA, LucidBlue, Mindfulness Capital, SkyVision Capital, Gate Labs, Poolz Ventures, NexGen, Cointelegraph Accelerator, Gains Associates, Rarestone, Echo, and DWF Ventures. It is reported that this funding will provide frictionless portfolio management and trading for funds, DAOs, and individual traders, while also promoting its new governance and utility tokens. (Cointelegraph) [Odaily Planet Daily]