Composable Finance cross chain DeFi interoperability provider raises 7 million USD

Rarestone Capital Founder, Charles Read, adds, "It is clear that cross-layer and cross-chain interoperability is the future of blockchain and Composable is well positioned to tackle this problem. The implications of unifying the entire blockchain ecosystem include making the space easier to navigate, while expanding on current use cases."

Advanced Blockchain AG CEO, Michael Geike, states, "Composable Finance is a project that has been a long time coming, and aims to meet a significant market need. Advanced Blockchain is proud that it has been able to play a supporting role in such an important project. We look forward to seeing its continued growth and impact on the DeFi and blockchain industries in the future."

Currently, Composable is finalizing audits on several layer 2 infrastructure solutions and is targeting a Q2 rollout of their Polkadot solution. This includes securing a parachain and further building the infrastructure for multiple layer 1 protocols. Funding will be used to add new tools to Composable's cross-layer approach as well as further product development.

Composable's first product launching shortly is a unique strategy for obtaining its parachain during the auctions, which must be purchased with either DOT or KSM tokens. Typically, users are asked to stake these tokens for protocols seeking parachains, but then miss out on staking rewards. Composable has designed a vault strategy where users can simply deposit ETH or another ERC-20 token, which is yield farmed to increase earnings. Then, half the yield is given back to the user and the other is used to purchase KSM/DOT on the back end, to be used for parachain procurement.