MonoX Raises $5M to Disrupt Traditional DEXs Using Single-Sided Liquidity Pools


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MonoX Protocol has closed a $5 million funding spherical.

MonoX Declares $5M Elevate

MonoX Protocol, essentially the most capital-efficient automated market maker (AMM) within the DeFi house, is delighted to announce the closing of a $5 million funding spherical to make it economical for initiatives to launch their tokens utilizing its modern single-sided liquidity swimming pools.

Led by Krypital Group, the funding spherical noticed participation from Axia8 Ventures, Animoca Manufacturers, Divergence Ventures, Youbi Capital, Rarestone Capital, LD Capital, GenBlock Capital, 3Commas, OP Crypto, and Blockdream. Ruyi Ren, the founder and CEO of MonoX, mentioned of the elevate:

“With a variety of innovation within the DeFi house, over-collateralization has turn into an more and more large downside. As essentially the most capital-efficient liquidity answer, MonoX will assist extra modern initiatives succeed. We’ll use the funding to develop the staff, additional develop and construct our neighborhood in new flourishing DeFi ecosystems like Solana.”

Not like conventional DEXs that require initiatives to deposit two tokens to construct a liquidity pair, MonoX allows builders to checklist their tokens with out the burden of bringing one other asset. Tasks can launch new tokens with out additional capital as a result of they don’t must deposit a second token to construct the pair.

Commenting on MonoX’s method to capital effectivity, Rarestone Capital companion Derek Hansen mentioned:

“MonoX is tackling the capital inefficiencies attributable to liquidity pairs. Venture house owners can checklist their tokens with out the burden of capital necessities and give attention to utilizing funds for constructing the venture as an alternative of offering liquidity. Their novel method to single sided liquidity is certain to assist scale new rising DeFi ecosystems like Solana and Avalanche. We sit up for their launch and can use our collective assets and experience to assist them succeed.”

The platform teams the deposited tokens right into a digital pair with the vCASH stablecoin, which is backed by all property within the MonoX swimming pools. It eliminates the capital inefficiencies attributable to liquidity pairs.

The only-sided liquidity design reduces buying and selling charges by avoiding the prolonged transaction paths seen on conventional AMMs.

Maggie Wu, the co-founder and CEO of Krypital Group, mentioned of her agency’s perception within the MonoX staff:

“Primarily based on our full confidence in the way forward for DeFi, we’ve got been on the lookout for merchandise that may assist DeFi increase and we met the MonoX staff. We consider that their concepts can decrease the limitations to entry for customers, on the identical time create larger worth for the DeFi subject. That is why we determined to speculate and incubate this venture, and likewise use our varied assets and expertise to assist them develop.”

MonoX can be a capital-efficient answer to infuse liquidity to Worth-Backed Tokens (VBTs) corresponding to synthetics, fractional NFTs, gaming tokens, and insurance coverage tokens. Such property will be launched and traded with zero collateral, which means initiatives and customers don’t should collateralize them a second time with a liquidity pair. MonoX is ready to launch its mainnet on Ethereum and Polygon within the Q3 of 2021 with full swap and liquidity options. As a blockchain-agnostic platform, it would additionally launch on Solana within the close to future.

MonoX is essentially the most capital-efficient AMM within the DeFi ecosystem. It empowers builders, merchants, and liquidity suppliers to take part in an open, accessible, and capital-efficient market. MonoX goals to revolutionize DeFi by fixing the capital inefficiencies of the first-generation protocol fashions. Its single-sided liquidity swimming pools and vCASH stablecoin facilitate decrease buying and selling charges, capital effectivity, and the flexibility to launch tokens with zero further capital.

For extra data, contact Hugh Flood at [email protected]

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