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Cosmos-based DeFi protocol Onomy gets $10M funding

Cosmos-based DeFi protocol Onomy gets $10M funding

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Onomy Protocol, a Cosmos-based DeFi protocol, has managed to secure $10 million in funding. For the uninitiated, the protocol is also a decentralized protocol for financial transactions.

This massive success was made possible by the participation of many investors, who each contributed a modest amount of their own funds to a privately formed token funding round. Notable participants include Bitfinex, GSR and Ava Labs.

According to the stated goals of the Onomy Protocol, the initial and primary goal is to successfully connect and unify the DeFi and currency markets. This is made possible by the many products they now offer, including the DEX and wallet.

In addition, reliable sources in the Onomy Protocol camp have stated that, as usual, there was no real main financier in this financing arrangement. In addition to this, the entire transaction was completed based on the official perception that Future Tokens (SAFT) were at stake. According to reliable sources, Lalo Bazzi, who happens to be one of the founders of the Onomy protocol, thoroughly confirmed this information. In addition, he believes that this very round of funding is the last one needed to launch the online network.

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