Cosmos-Based DeFi Protocol Nolus Raises $2.5 Million To Build the First Cross-Chain DeFi Lease
May 2, 2023 – George Town, British Virgin Islands
The Nolus DeFi lease provides up to 150% financing on the initial investment with a lowered margin call risk and access to the underlying leveraged assets.
Nolus, an interoperable application on Cosmos, has secured $2.5 million in pre-seed and seed funding to tackle inefficiencies in DeFi money markets.
The recently concluded $20 million valuation seed funding is backed by Dorahacks, Everstake, Cogitent Ventures, Token Metrics Ventures and Autonomy Capital, among others, and will allow Nolus to fully complete the technological backbone and further expand the platform both within and outside the Cosmos ecosystem.
The advisory board members Zaki Manian, Strangelove and Shane Molidor will ensure Nolus solidify its cross-chain presence.
The novel DeFi lease solution by Nolus unlocks the full potential of crypto money markets by reducing the industry’s steep over-collateralization requirements, resulting in significantly improved capital efficiency and much more favorable lending options for users.
The Nolus DeFi lease provides up to 150% financing on the initial investment with a lowered margin call risk and access to the underlying leveraged assets through whitelisted yield-bearing strategies.
With the added support of liquid staking derivatives, the Nolus protocol will create a cornerstone use case for LSDs for the Cosmos ecosystem in the form of self-repaying loans.
About Nolus
Nolus defines a money market between lenders looking to earn yield on deposited stablecoins and borrowers looking to amplify holdings with more assets than their current equity at lower risk and retained ownership.
The protocol utilizes a semi-permissioned PoS blockchain built using the Cosmos SDK and a WASM smart contract engine that executes in an isolated sandbox model focused on interoperability, security and performance.
Interoperability itself is at the core of Nolus’ offering as the protocol utilizes IBC an interchain accounts to tap into a diverse set of liquidity hubs without creating fragmentation across chains.
After months of testing, Nolus will open its public mainnet in May 2023.
Contact
Nolus Protocol, marketing and communications
This content is sponsored and should be regarded as promotional material. Opinions and statements expressed herein are those of the author and do not reflect the opinions of The Daily Hodl. The Daily Hodl is not a subsidiary of or owned by any ICOs, blockchain startups or companies that advertise on our platform. Investors should do their due diligence before making any high-risk investments in any ICOs, blockchain startups or cryptocurrencies. Please be advised that your investments are at your own risk, and any losses you may incur are your responsibility.
Follow Us on Twitter Facebook Telegram
The post Cosmos-Based DeFi Protocol Nolus Raises $2.5 Million To Build the First Cross-Chain DeFi Lease appeared first on The Daily Hodl.
Go to Source
Author: ChainWire
