Cosmos (ATOM)-based DeFi project Onomy Protocol has raised $10 million from a special token funding round.
The bear cycle in the cryptocurrency market has not been able to prevent investments in projects in the industry. As the crypto market continues its bearish and painful process, funding support for strong projects is increasing. Recently, serial investment rounds, private investment rounds and seed investment rounds have attracted attention. Many strong projects managed to collect over $100 million in funding. Overall, the projects have raised millions of dollars in funding. One of these projects, the DeFi platform Onomy Protocol, received 10 million dollars from the investment round in which strong names participated.
Cosmos-Based DeFi Project Onomy Gets Support From Powerful Names
Cosmos (ATOM)-based DeFi platform Onomy has raised $10 million in funding from names like Bitfinex, GSR, and Ava Labs.
Cosmos, which is seen among the major crypto money projects, is expanding its ecosystem at full speed. The decentralized smart contracts platform opens its doors to new projects in the fields of DeFi, NFT and metaverse. One of these projects, Onomy, will start its services on the Cosmos network.
The protocol wants to steer its products to the DeFi side, including the decentralized exchange (DEX) and wallet. In this way, Onomy will be able to bring DeFi and forex markets closer.
Onomy co-founder Lalo Bazzi said the fund is secured for future tokens with a simple agreement.
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