DeFi protocol raises $10M from Bitfinex, Ava Labs despite turbulent market

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Investors are still pouring millions into the DeFi space regardless of messy market conditions.

has proven itself to be a builders market as investments continue to find projects with promise.

Onomy, a Cosmos blockchain-based ecosystem, just secured million from investors for the development of its new protocol. The project mergesAccording to the developers, the latest funding round garnered $10 million from big industry players such as Bitfinex, Ava Labs, the Maker Foundation and CMS Holdings among others.

Lalo Bazzi, co-founder of Onomy, says the underlying goal of building a decentralized autonomous organization with a public infrastructure should serve the “core tenant of crypto - self-custody - without sacrificing on the user experience." Both DeFi and self-custody have been hot topics in the crypto community due to the FTX liquidity-bankruptcy scandal. Some experts have said that one of the major lessons to take away from the situation is

 

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OnomyProtocol I did not write my onomy wallet address in the relevant place on discord. Because I didn't know. Was this necessary? Because I traded a lot and I don't want it to go to waste. Isn't there any other way? Please...

OnomyProtocol Great notice

onomy1q70cr3avhsqwyrklmdmfeg9mxngv8858yzwuuv

Good for them I’m gonna stay with USDT

See you there… ☝🏻Talesof Satoshi WeAreSatoshi brothers and sisters in Tsuka waiting for us 🙏🏻

The one which is going to survive during bear market is going to sky rocket

👀

It's because they have faith in the future of DeFi

As the market matures, fewer investors are going to be shaken by scams like FTXScam .. no doubt there would be a dip in overall investment, but the market will soon learn from its previous mistakes. That's the way to go!

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