TotemFi Raises $255K in Funding

TotemFi, a London, UK-baserd decentralized finance (DeFi) prediction markets platform for the crypto community, closed a strategic sale round for $255k.

The strategic round forms part of the $777k fundraising cap for the project, of which $60,750 comes from seed funding, $360k comes from private sale, and $101,250 will come from the public sale when the project undergoes its IDO.

Backers included DuckDAO, Nabais Capital, LD Capital, Alphabit, Altvest, Moonwhale Ventures, and Bluenode Capital.

Led by CEO Jolyon Layard-Horsfall and CMO Harry Horsfall, TotemFi is a staking-based Decentralised Finance (DeFi) prediction protocol, which offers investors a platform to earn rewards for accurate predictions, both individual and collective, on price movements within a given asset, or on broader events. TotemFi combines high-yield staking pools with BTC and native token rewards for its community of users.

TotemFi’s decentralised app (dApp) launches early in 2021. 

The raise follows a successful incubation by DuckDAO, the top decentralized crypto incubator in the space.