AMM MonoX closes $5M funding round to launch economical liquidity pools

AMM MonoX closes $5M funding round to launch economical liquidity pools
фото показано с : invezz.com

2021-9-18 16:01

Automated market maker MonoX Protocol plans to disrupt traditional DeFi with cutting-edge, single-sided liquidity pools. The highly capital-efficient platform announced completion of a $5 million funding round, which will make token launches far more affordable than they are now. The round was led by Krypital Group with participation from Divergence Ventures, Youbi Capital, Axia8 Ventures, Animoca Brands, GenBlock Capital, 3Commas, Rarestone Capital, LD Capital, OP Crypto, and Blockdream. 

Ruyi Ren, founder and CEO of MonoX, said:

“With a lot of innovation in the DeFi space, over-collateralization has become an increasingly big problem. As the most capital efficient liquidity solution, MonoX will help more innovative projects succeed. We will use the funding to grow the team, further develop and build our community in new flourishing DeFi ecosystems like Solana (SOL/USD).”

Developers save money, listing single tokens to build liquidity pair

Traditional DEX require developers to deposit two tokens to build a pair. With MonoX, they can list a single one, saving the extra capital. MonoX groups the tokens deposited with the vCASH stablecoin into a virtual pair, which assets in the MonoX pools back. This does away with capital inefficiencies and reduces fees because extensive transaction paths are avoided.

Maggie Wu, cofounder and CEO of Krypital Group, said:

“Based on our full confidence in the future of DeFi, we have been looking for products that can help DeFi expand. We believe the MonoX team can lower the barriers to entry for users, at the same time create greater value for the DeFi field. This is why we decided to invest and incubate this project, and also use our various resources and experience to help them develop.”

The capital efficient AMM infuses liquidity to insurance and gaming tokens, synthetics, and other value-backed tokens (VBTs). You can now trade such assets with zero collateral.

MonoX will launch its mainnet on Polygon (MATIC/USD) and Ethereum (ETH/USD) in the third quarter of this year with full liquidity and swap features. The blockchain-agnostic platform will also launch on Solana soon.

The post AMM MonoX closes $5M funding round to launch economical liquidity pools appeared first on Invezz.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

RoundCoin (ROUND) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Доступно / Всего 0 ROUND

round liquidity pools funding monox million make

round liquidity → Результатов: 30


Фото:

MonoX Raises Closes $5M Funding Round To Disrupt Traditional DEXs Using Single-Sided Liquidity Pools

MonoX protocol announced today the completion of its funding round that saw investors come together to raise $5 million. As per the announcement, the funding round saw numerous investors’ participation, including Krypital Group, Youbi Capital, Rarestone Capital Axia8 Ventures, Capital, 3Commas, OP Crypto, Animoca Brands Divergence Ventures, LD Capital, GenBlock, and Blockdream.

2021-9-18 21:12


Фото:

deBridge Announces $5.5 Million Funding Round To Bring The New Era Of Cross-Chain Interoperability

deBridge is happy to announce it has successfully completed its funding round that raised $5.5 million. As per the announcement, deBridge’s new funding will go into helping the cross-chain liquidity transfer and interoperability protocol bring the new era of cross-chain interoperability to NFTs, DeFi, and others within the blockchain space. The funding round attracted many […]

2021-9-8 22:45


Фото:

Solana-based Concentrated Liquidity AMM Cyclos Raises $2.1 in Latest Funding Round

Solana-based DeFi project Cyclos today announced it had successfully raised a total of $2.1 million combined from a private and a public funding round. Developing the First Concentrated Liquidity AMM on Solana Per the announcement, Cyclos will use the funds toward developing the first concentrated liquidity AMM on the Solana blockchain. The AMM will enableRead More

2021-9-6 16:00


Фото:

One-Stop DeFi Hub OpenSwap Raises $1.5 Million in Latest Funding Round

Interchain, decentralized liquidity booster OpenSwap today announced the successful conclusion of its latest funding round after raising $1.5 million. OpenSwap Raises $1.5 Million in Latest Funding Round OpenSwap, the cross-chain DeFi Hub and liquidity booster for traders seeking concentrated and capital-efficient liquidity for trades today announced it had raised $1.5 million in its latest fundingRead More

2021-8-24 17:00


Фото:

Defi Derivatives Exchange Dydx Raises $65 Million – Project Plans to ‘Launch a Mobile Application’

The decentralized exchange (dex) Dydx announced the organization has raised $65 million in a Series C funding round led by Paradigm. The Dydx announcement notes that the additional capital will be leveraged to “significantly improve liquidity” on the dex platform “through the volatility of the cryptocurrency markets.

2021-6-16 12:30


Emerging DeFi Project Router Protocol Raises Seed Funding, To Launch Cross-Chain Farming Soon

An upcoming DeFi project positioning itself as the best cross-chain liquidity aggregator, Router Protocol has announced a successful conclusion of its first seed funding round. The project has raised a total of $ 480,000 from a prominent consortium comprising of crypto, fintech and DeFi investors based out of Singapore, India and the US. The Router […]

2021-1-16 16:30


Algo Capital Raises $200 Million To Develop Algorand Ecosystem

Algo Capital, a financial institution focused on accelerating the Algorand ecosystem has announced a successful funding round for its VC fund, obtaining double the expected $100 million. The firm is a separate entity from both Algorand Foundation and Algorand LLC, but it is wholly focused on driving adoption, liquidity and access to the Algorand blockchain.

2019-8-27 16:22


Фото:

Bitcoin Price Analysis: Potential Reaccumulation Could Test Bear Trend

Last week, after a devastating move that shook the market violently up and down for a 7% move in just a few short minutes, bitcoin saw a major sign of strength as it proceeded to have a slow, but steady markup where it managed to establish a local high in the $6,800s:Figure 1: BTC-USD, Hourly Candles, Shakeout Prior to MarkupThis shakeout forced the market to temporarily establish a new monthly low in what could be argued to be a stop-hunt prior to the move to the $6,800s.

2018-9-24 21:29