Paradigm-backed Exponential Launches YO to Address DeFi Hurdles

Exponential, which is backed by venture capital firm Paradigm, has recently launched a Decentralized Finance (DeFi) platform dubbed Yield Optimizer (YO). By design, this platform will serve both beginners and pros. The Incredible DeFi Ecosystem Exponential co-founder and CEO Driss Benamour described DeFi as an “incredible ecosystem” that conveniently provided value initially meant for traditional banks to users. He went on to list a few activities that can be achieved through the DeFi system. As a user, I can do market making, lending, staking, and bridging, and earn yield through these jobs,” Benamour said. The problem is that it’s complex and fragmented and can be risky if you don’t manage it properly.” Exponential YO Set to go Multi-chain With Base, Ethereum, and Solana With YO, Exponential aims to address these DeFi issues through a more straightforward platform. The paradigm-backed firm stated that YO is deploying “capital across chains to wherever the best opportunities” are on Base, Ethereum, and Solana. “YO taps into all major yield primitives across protocols like Morpho, Pendle, Reserve, Aerodrome, and more.” Even Exponential Chief Investment Officer Mehdi Lebbar highlighted YO’s distinct features compared to other protocols. Lebbar claimed that it is able to provide risk-adjusted yields and optimize them simultaneously, a capability that existing protocols allegedly lack. He also noted that no protocol has been able to go multi-chain in the past like YO is currently doing. YO to Leverage Exponential’s Standardized Risk Framework After so many years of development, the new platform will utilize Exponential’s “standardized risk framework.” This framework was designed after the firm raised $14 million three years ago in a funding round spearheaded by Paradigm. Once the fund was secured, Exponential created “the first institutional-grade risk rating system for DeFi,” according to its CEO. Benamour claimed that he and his team developed this risk rating system when he observed several people plunging their funds into investments without fully grasping the risks involved. This situation often makes investors prone to scams , with scammers exploiting their ignorance. So far, this rating system has recorded adoption on some platforms, including DeFiLlama, via APIs. The post Paradigm-backed Exponential Launches YO to Address DeFi Hurdles appeared first on TheCoinrise.com .

Source: The Coin Rise