Quasar Finance has secured a $70 million valuation after raising a $5.4 million bridge round led by Shima Capital.
protocolThe startup’s total funding now amounts to $11.5 million“Securing this funding given ongoing and difficult market conditions is a massive show of confidence and a significant reaffirmation of our partners' commitment to the common goal — making non-custodial and permissionless asset management available to all,” ValentinQuasar Finance aims to enable users to create vaults and enable strategies that can deploy assets across multiple blockchains.
The Cosmos ecosystem, which Quasar builds within, uses an inter-blockchain communication protocol that enables independent blockchains to communicate with one and other as well as trade assets. The release of IBC helps make Quasar’s services possible. One of the startup’s first offerings will be a rebalancing index of the Cosmos ecosystem, which is capable of staking included assets, according to the release.
"Quasar is an irreplaceable cornerstone of Cosmos and is a critical unlock for DeFi across IBC protocols,” said Alex Lin, head of research and investor at Shima Capital. “Quasar not only solves the ecosystem's fragmented capital shortcomings but also provides cutting-edge, secure vault mechanisms for a diverse user base.”
© 2023 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.By signing-up you agree to our
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
DeFi Protocol Yearn Finance Will Now Let Anyone Create Curve Reward FarmsYearn Finance will allow users to create their own vaults to accrue yield and deposit proceeds to earn even more token rewards. By shauryamalwa.
Leer más »
House votes to rescind billions in funding to the IRS in first major majority action with McCarthy as speakerIn one of the first votes since Kevin McCarthy became House speaker, the chamber voted to rescind more than $70 billion in funding to the IRS.
Leer más »
Smart Contract Platform Tokens See Double-Digit Gains, Boosting Defi TVL Above $40 Billion – Defi Bitcoin NewsThe top smart contract platform crypto coins by market capitalization increased 7.1%, and most have seen double-digit gains over the last week.
Leer más »
From DeFi 1.0 to 3.0: Innovative Protocols Leading the Way | HackerNoonThe DeFi ecosystem is constantly iterating and improving. From Primitives to Protocols, here's what seems to be building sustainable ecosystems for the future. - cc: dammfinance aevoxyz sturdyfinance defi defi2.0
Leer más »
$3.78 Billion Lost in 303 Hacks: SlowMist Releases Report on 2022 Blockchain AttacksNet number of attacks against DeFi protocol spiked by almost 30% compared to 2021 statistics
Leer más »
Watchdog complaint alleges Rep. George Santos committed campaign finance violationsA federal watchdog on Monday urged the Federal Election Commission to investigate Rep. George Santos, R-N.Y., alleging he violated federal campaign finance laws.
Leer más »