Polygon, FalconX, Biconomy and Elevation Capital have invested 3 million dollars and built the Pillow Fund.
What is this Pillow?
Crypto users can easily deposit their cryptocurrencies (Bitcoin, Ethereum and stablecoins USDC and USDT) in the Pillow App.
13.68% interest for Stablecoins and 6.03% interest for Bitcoin and Ethereum (interest rate as of 03-Jun-2022) daily. Pillow informs that they keep their deposits safe in more than 500 decentralized financial companies (Defi Platforms) and provide these interest rates from the profits received through them.
Pillow is currently developing its development activities in various Blockchains such as Ethereum, Polygon and Solana to provide maximum support to customers. They say that the Pillow Fund managed to get nearly $1 million in assets for investment in a short period of three weeks. Currently, one of the world's most famous crypto custodian services, One BitGo custodian service, has been deposited with Pillow for safe management of users' assets.
Vaas Bhaskar, a shareholder at Elevation Capital, believes that the next big breakthrough in Web 3.0 will be user experience-driven development. He also says that Pillow will make the difficult parts of decentralized currency easy for its customers. The founders believe that there is already a trend in crypto awareness, but less than 3% of wallets have done an on-chain transaction or used a Web 3.0 service. The Pillow team's mission is to find solutions to the problem of bringing the next hundred million users onto Web 3.0.