Developers of Onomy Protocol raised $10 million through the sale of SAFT-contracts to Bitfinex, GSR, Ava Labs, CMS Holdings, DWF Labs and other investors. The Block.
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The project aims to converge DeFi and forex markets through cross-chain bridge, DEX and a non-custodial mobile wallet.
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The funds raised will be directed toward expanding the team.
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The protocol has been under development since December 2020.
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According to Onomy co-founder Lalo Batsi, the mainnet launch is expected in the coming days. In the testnet, 40,000 unique users have performed over 800,000 transactions.
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The products are built independently from one another to add support for other blockchains and protocols with which we collaborate — Polygon, Avalanche and IOTA. This ensures a seamless interface and user experience in the cross- and multi-chain world, he explained.
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Going forward, a conversion into a DAO is expected through the issuance of its own NOM tokens.
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Earlier in September, Cosmos developers presented a Cosmos Hub white paper with new functionality.
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Earlier, the decentralized derivatives exchange dYdX announced the creation of its own network in the Cosmos ecosystem.
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