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Public Interest in DeFi Prevalent As Jigstack Closes Funding Round at $3 Million

Jigstack has completed its private and public funding rounds, which have closed at $3 million. The team plans to utilise these funds to continue building the ecosystem alongside the various decentralised products and services. The oversubscription of its private rounds confirms the broader interest in how Jigstack will transform the decentralised finance world. 

The private round included prominent investors such as Block FIlms, Moonwhale Ventures, Exnetwork, DHC capital, Blocksync Ventures, Gains, CSP DAO and X21 Digital. The private rounds were oversubscribed, confirming the global interest in this ecosystem. Consequently, the public sale – where $300,000 was raised – completed relatively quickly. Such overwhelming demand for exposure to Jigstack’s STAK token indicates investors are keen on exploring the governance and revenue-generating potential of this new asset.

As a decentralised autonomous organisation governing multiple revenue-generating protocols, Jigstack has a bold vision for the decentralised finance industry. Rather than focusing on greed, inefficiency, and incompetence, the team introduces an ecosystem where quality standardisation takes centre stage. To achieve that vision, the tools and protocols must empower users, and DeFi needs to be for the people, by the people.

Multiple revenue products and protocols exist under the Jigstack banner. Tools include Lemonade – a multi-platform token sale launchpad – Stakbank – a staking and rewards-oriented platform for the STAK token – and EthLink – a decentralised affiliate marketing solution. Other protocols in development include crypto gifting platform Santa, cross-chain bridge JigBridge, and high-end collectables and art NFT marketplace “Gallery”. 

All of these tools bring value to Jigstack’s STAK token, which receives a share of all transaction fees occurring via these protocols. Additionally, STAK holders govern the Jigstack DAO and all of its products. Jigstack paves the road for broader mainstream adoption of DeFi with a strong focus on quality assurance and interoperability. 

“The grab, was the metaphorical ‘Microsoft of DeFi’ intending to do for DeFi and crypto what Microsoft did for personal computing,” comments Paul Mak of Bonded Finance. “It’s needed and it’s a natural evolutionary curve. But the lightbulb moment for us was the concept of a well-organised DAO and the value potential of a single alpha coin governing an entire suite of decentralised financial tools. It’s basically an index play on the DeFi sector with a growth compounder.”

In the current landscape, decentralised finance primarily focuses on enriching the developer teams rather than empowering users. This creates a top-down approach rather than a level playing field for all participants. Jigstack’s vision is to create equal opportunities for all parties involved. More importantly, everything will be governed via the DAO, empowering token holders to help shape the future of this ecosystem. 

“Decentralised finance and decentralised governance are two of the most promising concepts in modern economics,” comments Robert Weir of Jigstack. “We couldn’t just sit on the sidelines and watch such an important endeavor compromised by vulnerabilities I thought could be well mitigated. With Jigstack, we bring a new standard of quality, security, and user-friendly, solution-oriented financial tools. It is my firm belief that adherence to these simple disciplines could be the catalyst for mainstream adoption.”

Author

  • Tyler is a Fintech Junior Journalist with specific interests in Online Banking and emerging AI technologies. He began his career writing with a plethora of national and international publications.

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