Decentralized Finance App Alice Raises $2 Million Seed Round Led by Arrington Capital and Others

Alice Software has raised $2 million in seed funding to build a front-end financial app that draws from Terra’s growing DeFi ecosystem.

Decentralized Finance App Alice Raises

Alice Software raises $2 million in seed funding to build a front-end financial app from Terra’s growing DeFi ecosystem.

On May 13, 2021, Alice, a mobile decentralized finance (DeFi) app, announced the closing of a $2 million seed funding round led by Arrington Capital, Do Kwon, co-founder and CEO of Terraform Labs, Mechanism Capital and Accomplice Blockchain led the investment. Alice will build a front-end financial application that enables fast payments and provides the ability to earn high returns from DeFi, making it available to mainstream users through a mainstream user interface.

Echul Shin, Alice’s co-founder and CEO, stated.

” DeFi is here to stay and we are excited to reduce the threat it poses to everyday users. Making DeFi easy to use is not enough to gain mainstream mainstream adoption. With Alice, we plan to leverage the design space of cryptocurrency extensions to build a user experience that is superior to Web 2.0.”
Alice is powered by Terra, a proof-of-stake blockchain network built on the Cosmos SDK that deploys an algorithmically fixed set of stable coins that highlight the thriving DeFi ecosystem, which includes applications such as Anchor Protocol. alice is built on Terra’s Anchor Protocol, which is a decentralized network that generates above-market returns.

Users of Alice can easily take advantage of the fast settlement capabilities of Terra’s UST stablecoin, one of the fastest growing cryptocurrencies by market cap, providing a seamless payment experience similar to the popular Chai Pay app (also built on Terra), which has amassed 1 million active South Korean users using Terra’s KRT stablecoin. users using Terra’s KRT stablecoin. High yields can be generated by integrating Terra’s Anchor protocol and accessing its smart contracts to offer Terra native stablecoin payments on Alice, which brings low volatility interest rates to its UST savers.

Clearly targeting U.S. users, Alice offers a strong financial foundation that the country’s current fintechs can’t match in terms of settlement or interest rates. Alice represents the next generation of “Consumer DeFi” apps, where intuitive mobile apps take dynamic functionality from DeFi, abstract out the complexity and deliver it to the mainstream, Alice is expected to become the gateway to DeFi for the average U.S. consumer.

Currently, Alice is in the process of registering users for its Beta application. The team also plans to add debit cards that will allow users to use TerraUSD (UST) at merchants around the world.

Shin said, “It’s time to open the floodgates for widespread adoption of DeFi, and we’re excited to lead the way.”

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/decentralized-finance-app-alice-raises-2-million-seed-round-led-by-arrington-capital-and-others/
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