DeFi portfolio management startup, Bril Finance, has revealed that it raised $3 million in a financing round led by FalconX, Kosmos Ventures, and the Algorand Foundation. This comes as the company has launched its flagship product on the Sei Network blockchain.
Bril’s purpose-built dApp is designed to give token holders access to an Automated Liquidity Manager (ALM) and help them find yield opportunities in the cryptocurrency market with greater efficiency. The dApp enables token deposits into single-asset vaults that generate yield based on risk appetite, providing all users with access to tools typically reserved for pros and allowing them to earn high rewards on their investments while minimising their exposure to risk.
Bril’s unique approach to DeFi
Bril is building a highly efficient, advanced platform for managing and actively optimising portfolio strategies in a safe, non-custodial environment. To prove the viability of the underlying technology, it has spent some of its capital on early integrations with leading automated market makers (AMMs) and DEX partners, as well as on creating a streamlined user experience for investors seeking yield.
Bril’s goal is to become the go-to platform ffor DeFi consumers looking for yield in all types of ecosystems. Its plans for the future include connecting with other AMMs across many chains and providing access to advanced portfolio strategies for both institutional and retail portfolio managers.
In addition to seeking yield across multiple ecosystems, the platform’s core liquidity provisions algorithm also rebalances positions for maximum capital efficiency based on the user’s risk appetite and the state of the markets.
Bril deployed on the Sei blockchain in late August, stating that the move was informed by Sei’s quick time to finality and DeFi optimisations. Bril’s intuitive user interface (UI) is meant to encourage widespread adoption of DeFi, while Sei gives users a taste of DeFi’s advantages at the same lightning-fast transaction rates they’re used to with TradFi. Therefore, Bril considers Sei to be central to the next revolution in DeFi for those who are dedicated to mastering the system. In addition, Bril’s “Yield IQ” tool will implement sophisticated yield-seeking strategies for depositors automatically.