Home Industry News Firm unveils new feature, raises $670,000 pre-seed funding

Firm unveils new feature, raises $670,000 pre-seed funding

by Goddie Ofose
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Stakefair, a decentralised finance company, has launched a new financial model to help individuals achieve a no-loss sports staking offering.

The Founder and chief executive officer of Stakefair, Akinyemi Akindele disclosed that Stakefair was originally meant to be a predictions website that allowed users to stake on events using digital currency. He explained that he was triggered by the stories of ruin and regret of the respondents of the user research to build a financial model to see if ‘no loss’ sports prediction model was achievable.

In a statement, he explained that the website will allow users to predict the outcome of sports matches and other real-world events to earn money by staking digital currency. He stated that the outcome of the wager can either be a win or a loss.

He further said that with the website’s ‘no-loss’ sports staking offering, individuals can now see the platform as a yield generator through their crypto stake.

Akindele said, “We have built much more than the business-to-consumer DeFi gaming products, we have also built the DeFi infrastructure that allows other developers to build DeFi apps like ours for use cases such as no-loss staking, treasury management, yield aggregation, wallets, and market-making.”

The firm disclosed that the ‘no-loss’ sports staking model is simple as it allows a user stakes a unit of a coin on a set of games, which it will invest in a DeFi lending pool so that it can yield interest.

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