Revault Network acquired by Mati Greenspan’s Quantum Economics

Mati Greenspan’s Quantum Economics said April 13 that it acquired the DeFi platform Revault Network.

Revault is a service that allows users to find the highest-return vaults at any given time, eliminating the need for users to choose where to deposit their funds.

Quantum Economics will acquire assets and intellectual property from the Revault Foundation and its subsidiaries, according to a press release shared with CryptoSlate. Quantum Economics will also acquire Revault founders’ tokens that have been transferred to its own DeFi project, Layered Cake Protocol.

Revault Network’s decentralized autonomous organization (DAO) will continue to operate and vote on development decisions. Quantum Economics noted that the acquisition marks the first time that an Israel-based company has purchased a DAO.

Revault Network’s REVA token will also remain in use. The token has only a small market cap, valued at just $668,000 at present, according to CoinGecko.

Revault and Quantum Economics previously partnered in 2022.

Quantum Economics CEO Mati Greenspan suggested that the acquisition will help advance decentralized finance in general. Greenspan expressed his belief that DeFi can “completely replace traditional finance” within a decade and said that viable alternatives to traditional finance will allow investors “to invest in DeFi safely and easily.”

Greenspan is well-known in the blockchain sphere for his extensive commentary on the crypto industry and his portfolio management advice. In addition to his founding role at Quantum Economics, he formerly served as a Senior Market Analyst at eToro.

The post Revault Network acquired by Mati Greenspan’s Quantum Economics appeared first on CryptoSlate.

Credit: Source link