Strategic Funding led by Mechanism Capital and CitizenX Positions Canopy as the key DeFi Infrastructure Provider for Movement Ecosystem

TORTOLA, BRITISH VIRGIN ISLANDS - January 29, 2025 (NEWMEDIAWIRE) - Canopy, a Movement Labs native innovator in decentralized finance (DeFi) yield strategies, announced today that it has raised $1.2 million in its first funding round led by Mechanism Capital and CitizenX, with participation from Primitive, GSR, and Side Door Ventures. This strategic investment will accelerate Canopy's mission to empower users with sustainable and transparent yield solutions within the Movement ecosystem.

The newly secured funding will fuel the growth of Movement’s DeFi ecosystem by onboarding massive liquidity through Canopy into institutional-grade strategies and retail-friendly solutions.

“It’s exciting to back a team that is as well versed in mechanism design, as they are in go-to-market strategies, while maintaining a community-centric approach. Numerous recent protocol launches lack creativity and uniqueness, jumping on the same repetitive launch playbook, oftentimes unsuccessfully,” said Roland Roventa, Investment Principal at Mechanism Capital. “We like investing in new primitives, and Canopy has built their whole protocol from scratch, in a refreshing DeFi manner that will be at the core of Movement's ecosystem,” he added.

As a member of Movement’s Move Collective accelerator program, Canopy is building essential DeFi infrastructure that exemplifies Movement's capability to handle sophisticated financial applications at scale. The project was founded to tackle the challenges of fragmented liquidity and inefficient yield opportunities in DeFi, leveraging Movement's advanced strategy marketplace to provide protocols and users with seamless access to curated yield strategies that prioritize security, scalability, and sustainability.

Canopy offers a fully integrated user experience, enabling users to discover, optimize, and manage yield opportunities from a unified dashboard. The Canopy platform provides access to a wide range of yield options through custom-built strategies and integrations with partner protocols. Additionally, its advanced rewards distribution engine compounds and optimizes yield generation.

"This raise validates our vision of building a yield aggregation ecosystem that addresses DeFi's scalability and sustainability challenges," emphasized Bennett Davis, Cofounder and CEO of Canopy. "With the support of our investors, we're ready to scale Canopy and set new standards for liquidity aggregation."

“Canopy pushes the boundaries of what's possible with Move by transforming complex yield optimization problems into streamlined, production-ready solutions," explains Rushi Manche, Co-Founder of Movement Labs. "This type of innovative thinking around capital efficiency is exactly what will drive the next wave of DeFi adoption, and I'm thrilled to see institutional investors recognizing this potential."

Short-term, Canopy plans to roll out additional partnerships with leading Movement ecosystem protocols to further enhance its strategy offerings. Long-term, Canopy aims to establish itself as the go-to yield marketplace on Movement, enabling institutions and retail users alike to benefit from optimized strategies without compromising security or efficiency.

For more information about Canopy and its revolutionary approach to DeFi yield strategies, visit https://canopyhub.xyz. 

Canopy is a decentralized yield marketplace built to simplify and optimize liquidity deployment in DeFi. Its modular architecture combines strategies, incentives, and analytics to deliver scalable solutions for protocols and users. Follow Canopy on X: https://x.com/canopyxyz

Contact:
Jon Lindsay Phillips
jon@phillcomm.global

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