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The DeFi Smart Contract Automation Network Gelato Raised $11M in its Series A Funding
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blockchain.newsGelato, a smart contract automation network focused on the DeFi sector, announced that it has raised $11 million led by Dragonfly Capital in its Series A financing.
In this round of financing, main supporters include ParaFi Capital, Nascent, IDEO CoLab Ventures, and Aave founder Stani Kulechov. The funds will be used to establish a «cryptocurrency Zapier».
Gelato enables everyone to leverage the power of a decentralized network of bots to fully automate the movement of their money between different protocols on Ethereum.
Through the development of Web 3.0 automation, they can automatically rebalance their investment portfolios and execute transactions to protect their investments from major losses.
Mika Honkasalo from ParaFi Capital
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