BREAKING: Gelato raised $11 million in a Series A round. The round was led by Dragonfly Capital.
But what is Gelato Network?
Gelato Network is the first protocol that automates smart contract executions on Ethereum and beyond. Gelato’s decentralized network of bots allows dapp developers to deliver users the opportunity to interact with DeFi in ways that were previously not possible on a mass scale. Very recently, the project partnered with Quickswap and AAVE.
AAVE CEO Stani Kulechov commented:
“Gelato is trying to solve a key problem for DeFi and Web 3.0 in general, being that many functions in decentralized applications have to be executed conditionally or repeatedly in order for the applications to operate as desired. These operations require external servers to execute them automatically at the right time. Without those, DeFi, as we know it today, would not exist. Gelato is providing dApps teams with an easy-to-use and reliable network that takes care of all their automation needs. I’m excited to see where this project will go in the future.”Stani Kulechov, CEO of AAVE
Very recently, Gelato Network closed its GEL token sale enabling community governance of the protocol. So, exciting times lie ahead of all GEL token holders.