Los Angeles, CA, July 13, 2020 (GLOBE NEWSWIRE) — (via Blockchain Wire) With interest rates declining and inflation soaring all around the world, many are turning to alternative methods of storing and investing their money, and for many of those who are doing so, decentralized finance (or DeFi) is starting to look like an increasingly attractive option. The problem? Intelligently investing in crypto is time consuming, difficult, and potentially very risky. Even for those who are well versed in DeFi, taking advantage of unprecedented opportunities without risking their entire investment can be a challenge. Snowball Money, one of our Spring 2020 Xcelerator batch companies, hopes to save people the persistent stress of investing in crypto-assets.
Snowball’s anchor product, a high-interest savings account, enables the masses to leverage DeFi to enjoy high interest rates through yield-optimization between lending protocols. They already have over 220,000+ users on their iOS/Android application waitlist and 11k pre-installs, with the immediate success of their ongoing Republic crowdfunding campaign only accelerating that interest. Their spike in traction is no surprise; the DeFi space is growing (with over $1.4B locked up), Compound recently launched their COMP token, and post-covid quantitative easing all set the stage for a company like Snowball to shine. You don’t even need to be deeply involved in the crypto space to use their product — and that’s the point! Anyone can invest in crypto-assets with Snowball.
Over the next month, Snowball will be wrapping up their crowdfunding campaign on Republic. They currently have over 1100 investors with $340,000+ committed in a SAFE with a 15% discount and a $6,000,000 valuation cap. Read more about their product, vision, and campaign here!
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