Exponential, a decentralized-finance (DeFi) investment discovery and risk assessment platform, has raised $14 million in a seed funding round that was led by crypto-focused investment firm Paradigm.
Hackers have exploited code vulnerabilities in a growing number of DeFi projects this year. Exploits of cross-chain bridges – which is software that allows users to move assets from one blockchain to another – led to at least $2 billion in lost cryptocurrency during the first half of the year, according to a recent Chainalysis report.
“Investing in DeFi is a labyrinthian hellscape that even the most devoted crypto evangelist can get lost in,” Exponential co-founders Driss Benamour, Mehdi Lebbar and Greg Jizmagian wrote in a post announcing the funding. “Finding legitimate projects, executing trades, moving funds across chains, tracking performance and filing taxes is more than enough to scare off most investors.”
The Exponential platform has an institutional-grade risk assessment system...
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