Web3 start-up 88x Finance has partnered with Axelar Network to create a cross-chain yield aggregator that it claims will provide services to both retail and professional investors.
The crypto platform is participating in the Axelar Ecosystem Startup Funding Program, a $60m startup funding program dedicated to accelerating Web3 protocols and backed by Axelar and a group of 15 blockchain investors.
Yield aggregators combine multiple smart contract protocols and strategies to maximise return on investment by using smart contracts to invest crypto assets in yield-paying products and services through automated strategies.
They are similar to having a fund manager in charge of a crypto portfolio, providing the best decentralized finance, or DeFi, crypto staking opportunities.
88x said it intends to provide vault automation strategies and diversification through predefined investment strategies running across multiple blockchains.
