Slope Finance, the startup behind a Solana cryptowallet, has raised $8 million.
Slope Wallet is described as a ‘mobile gateway for the Solana ecosystem’ and offers a mobile-first experience for decentralised finance and NFT functions.
Available in the App Store, Google Play and as a Chrome extension, Slope is governed by Slope DAO. All community members who hold Slope tokens can participate in the project’s governance.
The Series A funding round was co-led by Solana Venture and Jump Capital. Prominent VCs and major exchanges include Sequoia China, Genesis Trading, CMS, Spark Digital, Spartan Group, Fenbushi Capital, Mirana Ventures (Venture Partner of Bybit), Circle Venture, Wave GP, Huobi, OKEX Blockdream Ventures and Gate also participated.
Slope launched in September 2021 and by January 2022 had reached a million downloads, with 850,000 monthly active users across all platforms.
“Since its debut in the Solana Season Hackathon, Slope has experienced impressive growth across both established and emerging markets,” said Matthew Beck, partner at Solana Ventures.
“We are excited to support Slope’s mission to provide a seamless, cross-platform experience for users to engage with Solana’s DeFi, NFT and gaming ecosystems.”
Founder of Slope Leal Cheung says crypto applications should aim to meet and exceed the UI/UX standards users have become accustomed to on internet applications. This will be a major driver to lower entry barriers for newcomers and grow the community as a whole.
Saurabh Sharma, partner at Jump Crypto, added: “Slope is building the mobile gateway for Solana ecosystem that offers a comprehensive mobile-first experience to all DeFi and NFT primitives.
“We are excited to support Slope in their ambition to onboard millions of mainstream crypto users.”