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DeFi startup Pillow raises $3M led by Elevation Capital and marquee angels

To be used to deepen access to DeFi opportunities, accelerate global expansion; build strong user community

SINGAPORE – News Direct – 4 February 2022 – Pillow, a DeFi (decentralized finance) startup that helps generate yields on crypto, has raised $3M in seed funding led by Elevation Capital and a host of prominent crypto angels, including Scott Lewis (Co-founder, DeFi Pulse), JD Kanani & Sandeep Nailwal (Co-founders, Polygon), Prabhakar Reddy (Co-founder, FalconX), and Aniket Jindal (Co-founder, Biconomy) and industry stalwarts like Ramakant Sharma (Livspace), Farid Ahsan (Sharechart), Kush & Sambhav (FamPay), Mukund Jha (Dunzo) amongst others. The funds will be used to build alpha-generating DeFi strategies for popular crypto assets (including $BTC, $ETH, and popular stablecoins), accelerate global expansion, build a strong user community, and grow the Pillow brand to make DeFi accessible worldwide.


Founded in 2021 by Arindam Roy, Rajath KM, and Kartik Mishra, Pillow is an exclusive community for users worldwide who want to earn market-beating interest rates on their crypto, instead of letting them lie idle. Arindam and Rajath are DeFi maximalists, deeply entrenched in the DeFi space since its inception. They are also active Web 3 advocates. Kartik is an early crypto adopter, buying his first bitcoin in 2013. He’s been actively participating in and advocating for DeFi since 2020.

Pillow’s platform helps generate downside-protected interest on crypto assets by investing in curated, actively managed DeFi strategies created by the team. It takes away the complexity of DeFi as users can invest and earn high yields in just 1-click without worrying about gas (transaction) fees, underlying chains and tokens, etc. In under three weeks of launching their beta in December 2021, Pillow has organically scaled to more than $1M in AUM (Assets Under Management) on the back of their stablecoin strategy, which provides 17.8% yield. To ensure customers’ crypto assets are secure, Pillow uses BitGo, the world’s leading custodial services, for custody management and also leverages Gnosis Safe for multi-sig capabilities.

“We want to create a future where accessibility to decentralized finance is democratized, if not more than traditional finance. We’re fulfilling this vision by letting our users gain access to DeFi yield opportunities in a simple, safe, and secure manner,” said the Pillow founders. They added, “Our users have shown unequivocal faith in our platform in our private access program, and we’re on track to scale this to new heights. We’re grateful for the mentorship and guidance of Elevation Capital as we scale, along with some of the best builders in the Web 3.0 space, including Sandeep, JD, Prabhakar and Aniket. We’re elated to have the ecosystem rally behind us as we build our platform and community.”


Vaas Bhaskar, Principal, Elevation Capital, said, “We believe the next big unlock in Web 3.0 is going to come from significantly improving user experiences. Pillow fits right into that theme by abstracting away the complexities of DeFi – and hence making It more accessible. We’re impressed with Arindam, Rajath and Kartik’s depth of understanding and clarity of vision, and are thrilled to partner with them in this journey.”


Speaking about his investment in Pillow, Scott Lewis (of DeFi Pulse) said, “I’m excited to partner with them on their journey as they become the world’s first borderless DeFi accessibility platform.”


Decentralized finance is an emerging financial system that does not rely on centralized intermediaries, such as banks, stock exchanges, or brokers. Instead, DeFi protocols use smart contracts to immutably record transactions and transfer funds. DeFi is a nascent but fast-growing space: the TVL (total value locked) has exploded in just a year, from ~$20 Bn in January 2021 to ~$250 Bn in January 2022. The challenge is in making it simple and user-friendly enough for mass adoption. Arindam, Rajath, and Kartik’s mission is to create a safe, accessible, borderless DeFi investment platform and make DeFi accessible to everyone globally.

Pillow is available for download on Google Playstore and Apple App Store, and will provide users with strategies and market-beating rates for popular crypto assets that include $USDC, $USDT, $BTC and $ETH.

About Elevation Capital: Elevation Capital is a leading venture capital firm which provides seed and early stage capital for emerging companies in India. Elevation Capital has been investing in India since 2002 and is currently investing out of its seventh pool of capital. The firm is led by Co-Managing Partners Ravi Adusumalli and Mukul Arora, along with three Managing Directors Mridul Arora, Deepak Gaur and Mayank Khanduja. The firm has invested in over 150 companies across Consumer Internet, SaaS, Fintech, D2C, Edtech, Healthtech and Web3/Crypto, and has offices in Bengaluru, Gurgaon and Salt Lake City.

#DeFi

The issuer is solely responsible for the content of this announcement.

Major Cabinet Reshuffle Announced in Laos

Laos Prime Minister's Office
The Prime Minister's Office.

Laos has announced a reshuffle of its leadership, with several high-level positions to see new faces in the coming weeks.

User-friendly cryptocurrency exchange, BingX, announces the addition of 10SET, MC, NIF, and DEVT to the platform for spot trading amidst plans to list more high grade crypto assets

SEOUL, SOUTH KOREA – Media OutReach – 4 February 2022 – The team at BingX is not resting on their oars by delivering the best experience to crypto enthusiasts across the globe with the recent announcement of the availability of 10SET, Merit Circle (MC), Unifty, and Decentralised eternal virtual traveller for spot trading. The decision is in line with the goal of creating an all-inclusive ecosystem that will accommodate the growing and diverse needs of crypto investors and traders.

The cryptocurrency space continues to evolve, as more developers and solutions emerge from different parts of the world. Crypto trading is a multi-billion-dollar industry that has shown continuous growth, with individuals and institutions profiting from the changes in prices of different assets. Unfortunately, many of the available cryptocurrency exchange and similar platforms do not effectively address the concerns of users in terms of comprehensiveness and user-friendliness. However, BingX is seeking to change this narrative, a claim substantiated with its constant availability of new and upcoming coins such as Tenset ,Merit Circle ,Unity and DEVT. This allows investors to trade earlier on its user friendly platform.

 

BingX has become increasingly popular over the years, due to the wide range of features that users of the platform enjoys. The platform currently offers several products and resources to traders, including auto trading robot, spot trading, crypto derivatives, and copy trading. BingX also boasts of a growing social trading community that allow different categories of traders, irrespective of their experience, to interact, connect, and share knowledge.

 

The decision to add 10SET, MC, NIF, and DEVT to the BingX Spot Beta version was made in response to popular demand from users. The spot trading service of the recently listed assets has since commenced on December 30 (UTC+8), with deposit and withdrawal available from December 31 (UTC+8). The platform has also announced that more high grade crypto assets will be listed on BingX spot trading market to deliver an amazing experience to users.

 

For more information about BingX and the unique crypto trading experience offered, visit official website-www.bingx.com. BingX can also be found across social media, including Facebook, Twitter, and Telegram.

 

#BingX

Hungarian Winery Juliet Victor Announces its Expansion into Asia through its first stop in Singapore

SINGAPORE – Media OutReach – 4 February 2022 – Juliet Victor, The Crown of Tokaj, one of the world’s finest wine producers from Hungary has announced the evolutions of its international reach into the Asian market through their latest entrance into Singapore.

 

Being awarded the Best in Show award at the Decanter World Wine Awards 2020 featuring their signature sweet wine, Juliet Victor’s Szamorodni 2017 wine was described as a “Bright gold Tokaji with fresh and lively scent, yet alluring and sensual too, with the fragrance of Harslevelu and the sweetly grapey appeal of Muscat Lunel joining the less focused warmth and force of Furmint.” The brand features a rich wine with the right balance of sweetness and acidity, guarding the aromatic finesse right through the palate. The company aspires to bring consumers around the world on a journey that starts with the inspiring heritage of the terroir whilst continuing to grow with high-end, cutting-edge technology.

 

The latest move of expansion marks their growth and continuation of inspiration of heritage through technology and cross border e-commerce. Expanding to Singapore is only the first step in Juliet Victor’s expansion plan in Asia. With Singapore being a global business hub, such move will be beneficial for Juliet Victor as a stepping stone to expand to other cities and countries within Asia.

 

“I am excited to launch the Juliet Victor brand in Singapore as part of the winery’s expansion into Asia. Juliet Victor was founded by my family with the mission to create the finest Tokaji wines and to redefine the perception of Hungarian wines globally. Bringing the brand to Singapore is an important step in the journey. Tokaj is a region celebrated for its history of exquisite wine production that spans across centuries. Our vineyard portfolio of historically significant areas allows Juliet Victor to produce outstanding vintages of the region’s famous sweet blend and dry furmint wines.”  – Mark Varadi, Owner of Juliet Victor Asia, Co-Owner of Juliet Victor Winery.

 

With that in mind, Juliet Victor’s exceptional grape wines and rich terroir will aim to bring consumers on a journey filled with unique taste to experience Hungary’s specialty.

 

https://jvtokajiwines.com.sg

#JulietVictor

The issuer is solely responsible for the content of this announcement.

Laos Takes On Big Diplomacy in New Book

Small Countries, Big Diplomacy, a new book highlighting the role of Laos in the global arena, was officially launched yesterday in Vientiane Capital.

Laos Confirms 359 New Cases of Covid-19, Four Deaths

Covid-19 Update Xayaboury

Laos has recorded 359 cases of Covid-19 across the country today, with four new deaths attributed to the virus.

Laos Has Second Highest Inflation Rate in ASEAN

Inflation and cost of living in Laos

Laos is suffering from one of the highest inflation rates in the region, raising concerns as the population suffers from financial hardship.

Thailand Uses Sniffer Dogs to Uncover Smuggled Pork from Laos

Thailand uses sniffer dogs to uncover smuggled pork
Thailand uses sniffer dogs to uncover smuggled pork.

Customs officials in Thailand have trained dogs to sniff for pork to prevent the meat from being smuggled across the border from Laos.