The MonoX Protocol today announced the completion of its funding round, in which investors have teamed up to raise $5 million. According to the announcement, numerous investors were involved in the financing round, including Krypital Group, Youbi Capital, Rarestone Capital Axia8 Ventures, Capital, 3Commas, OP Crypto, Animoca Brands Divergence Ventures, LD Capital, GenBlock and Blockdream.
In particular, the newly acquired funding will help Monox bring tokens to the market with its one-sided liquidity funds. Ruyi Ren, Founder and CEO of MonoX, commented on the financing round: “With many innovations in DeFi, oversizing has become a growing problem. As the most capital-efficient liquidity solution, MonoX will contribute to the success of the most innovative projects.”
We will use the funds to grow the team, develop and build our community in new thriving DeFi ecosystems like Solana. The MonoX protocol is a unique token liquidity pool designed to provide superior DeFi products and services to users. Like other DEX projects in the market, the protocol uses a liquidity pool and the tokens stored in pools in a virtual pair with the stablecoin vUSD. The project was launched to help build and shape the new real estate economy while being positive at the same time affect the community.
MonoX hopes to bring innovative new DeFi products and services to market that participants in the DeFi ecosystem will appreciate and love. MonoX offers users lower trading rates compared to other platforms in the industry. In addition, users need less capital to become a provider.
Liquidity and Less Protocol also allows project owners to launch their new tokens with no capital. Derek Hansen, Partner at Rarestone Capital said, “MonoX addresses capital inefficiencies caused by liquidity pairs. Load on capital needs and focus on using the funds to build the project rather than providing the money.
Their new unilateral approach to liquidity will undoubtedly help develop unique emerging DeFi ecosystems like Solana and Avalanche. ”He added,“ We look forward to their rollout and will use our shared resources and expertise to help them succeed.
