Tuesday, 30 May 2023

Crypto News

Giddy’s smart wallet will boost interoperability within the DeFi ecosystem

Giddy's smart wallet will boost interoperability within the DeFi ecosystem

Key takeaways

  • The DeFi ecosystem has suffered huge losses over the past two years due to the ongoing bear market.
  • Giddy’s DeFi smart wallet seeks to solve the problems of interoperability and ease of use within the DeFi ecosystem.
  • Eric Parker, the CEO of Giddy, believes that the DeFi ecosystem will ultimately become Finance 2.0

Binance Smart Chain (BNB) and Ethereum were some of the leading blockchains for DeFi projects. Despite the major growth recorded by the DeFi ecosystem in recent years, one of the major issues that remain is interoperability. Not many projects are working on solving interoperability within the DeFi ecosystem, a solution that would make it easier to move tokens between various blockchains.

Giddy, a provider of a self-custody smart wallet, is making a mark in this area. The company’s DreFi smart wallet integrates with some of the best projects in DeFi and is set to increase interoperability and ease of use even more.

Coinjournal sat down with Eric Parker, the CEO of Giddy, to discuss the company’s plans after recently raising $6.9 million in a funding round. 

Coinjournal (CJ): Giddy recently raised $6.9 million and will use the funds to boost DeFi adoption. How does Giddy intend to improve on some of the existing DeFi solutions or expand its services?

Eric Parker (EP: We’ve developed a ton of new tech already- from our self-custody no-seed-phrase private key solution to our Autogas and our one-tap staking, all of this works together to make DeFi feel seamless for brand new and experienced crypto users alike. Giddy currently integrates with some of the best projects in DeFi, and we’ll be using this funding to increase interoperability and ease-of-use even more. Next up we’re going to add more chains, integrate new DeFi protocols, add more utility to our token, add new fiat off-ramps, and bolster our private key platform for more ease and security. We’ve shown we can build the concept and scale it. Now it’s all about extending our DeFi smart wallet across all aspects of DeFi.

CJ: Could you talk more about the involvement of your strategic investors in this funding round, and how their expertise will contribute to Giddy’s growth and development?

EP: We have some really incredible advisors and strategic investors, who come from backgrounds and have experience at some of the biggest consumer…

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