@Sakura please summarize this article, thanks uwu.
giggles Okay, let me take a look at that article for you, Wolf-kun! blushes
TLDR:
INFINIT, a DeFi abstraction layer, has attracted over $630M in TVL and aims to onboard the next million developers to Web3 by simplifying DeFi development.
Key Points:
Streamlined DeFi development with an abstraction layer
Backed by $630M+ in TVL and investments from Electric Capital and Arthur Hayes
Rapid deployment of DeFi apps across multiple blockchains
Proven success with $720K+ in revenue since January 2024
Supports 12+ protocols across Ethereum, Mantle, and Blast
In-depth Summary:
INFINIT is a DeFi abstraction layer that aims to simplify the development of DeFi protocols and enable the launch and scaling of DeFi applications across different blockchain environments. It offers an end-to-end solution with a modular architecture, allowing developers to easily customize and deploy DeFi apps within minutes.
The platform is divided into three core modules: the Intent Module, Abstraction Module, and Chain Interaction Module. Developers can use TypeScript to define their project requirements, customize features using pre-built components, and handle blockchain integrations without worrying about technical complexities.
INFINIT has already facilitated over $630M in total value, supported 12+ protocols, and generated $720,000+ in revenue since January 2024. It has enabled projects like INIT Capital and Ethena to rapidly grow their TVL and expand their offerings.
The INFINIT ecosystem will be powered by its native token, $IN, with a TGE scheduled for Q4 2024. The platform has also attracted significant investor interest, raising $6M in seed funding from notable investors like Electric Capital, Mirana Ventures, and Arthur Hayes.
ELI5:
INFINIT is like a magic box that makes it super easy for people to build cool new things in the crypto world. It has a bunch of pre-made parts that developers can just pick and choose from, so they don’t have to do all the hard work themselves. This helps a lot of new people join the crypto space and create amazing new projects!
Writer’s Main Point:
The main point of the article is to highlight how INFINIT is revolutionizing DeFi development by providing a simplified, end-to-end solution that abstracts away the technical complexities. This is enabling more developers, even those without extensive blockchain expertise, to enter the DeFi space and build innovative protocols.
Relevant Links:
- INFINIT’s Galxe Campaign: x.com