Cosmos (ATOM)-based decentralized finance (DeFi) protocol Onomy has raised $10 million in a private token funding round featuring leading names in the cryptocurrency industry.
In a statement Wednesday by Onomy, the funding round Bitfinex, GSR, Ava labs, CMS holdings and DWF labs It was stated that there was no specific lead investor in the round. One of the future plans of Onomy Protocol DEX (decentralized exchange) and through its products with wallets DeFi and Forex bringing the markets closer. One of the products offered Tier 1 blockchain network and as well as a blockchain bridge Onex It includes a decentralized exchange called a non-custodial mobile wallet.
Founder Bazzimade the following statements about the funding round and the future of the project:
The products are built agnostically to support other blockchains and protocols we have partnered with such as Polygon, Avalanche, and IOTA to bring a seamless UI and user experience to the cross-chain and multi-chain world.
Bazzi added that with fresh capital on hand, he plans to continue developing the protocol and scale the team “methodically.” Onomy’s mainnet is expected to be operational in the coming days. In the testnet Over 800,000 transactions and 40,000 unique users reported to have been seen.
However, Onomy may reorganize its formation into a decentralized autonomous organization or to the DAO (Decentralized autonomous organization) will convert and local token of NOM It will offer owners the opportunity to vote on their decisions.