The former founder of Midas Investments launched a project in the field of DeFi.
Former Midas Investments founder Iakov Levin has entered the DeFi space with a new DeFi platform, Locus Finance. However, the announcement was met by the community.
Iakov Levin introduces new platform in DeFi space
Former Midas Investments founder Iakov Levin has launched a new DeFi platform, Locus Finance. Locus Finance is a decentralized finance platform that provides users with access to high-yield tokenized vaults. The platform will initially offer three yielding products such as Ethereum staking, DeFi growth and Arbitrum trading.
Levin stated that users do not want to worry about issues such as blockchains, protocols, transaction costs and portfolio management, and stated that Locus Finance was established to eliminate these concerns. The platform offers a tailored display approach to ensure a viable wealth generation for retail investors.
Midas Investments was founded in 2018 and managed over $250 million in assets in 2021. However, as the market conditions changed in 2022, the company made a loss of over $50 million and was closed in December of the same year. Levin started a new venture by founding Locus Finance following the closure of Midas Investments.
