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Decentralized Money Market Protocol for the Polkadot ecosystem Konomi Network raises $5 million from top-tier cryptocurrency funds, including Digital Finance Group, Amplifi, and Titans Ventures.
SHANGHAI, March 16, 2021 /PRNewswire-PRWeb/ — Konomi Network, a decentralized money market protocol, successfully closes a $5M raise in three rounds of investment to deliver on its product roadmap for improving lending, trading, and asset management in the Polkadot ecosystem. The $5 million raise will support Konomi in advancing the decentralized lending space by introducing support for Ethereum virtual machine and smart contract deployment, providing decentralized liquidity swap, and launching a standalone Konomi parachain.
Crypto firms contributing to this raise include, Digital Finance Group (DFG), Amplifi, Blocksync, CMS, Crypto J, Double Peak, LD Capital, 4 Seasons, Dream Fund, BTX Capital, Coin98 Ventures, FBG Capital, Moonwhale, Titans Ventures, AU21 Capital, Genesis Block, Altonomy, and Zonff Partners. Konomi is preparing to launch a public testnet, and the token generation and listing is slated for Mid-March.
James Wo, an active investor and the Founder of DFG, said, “In light of the current crypto bull run, there is a great need for improved lending, trading, and asset management. At DFG we believe strongly in Konomi’s ability to deliver on this need for the Polkadot ecosystem, whose interoperability capabilities will enable it to form the foundation of digital finance moving forward.”
Konomi’s primary focus in the short term is to secure strategic collaboration with top DeFi projects in the Ethereum and Polkadot communities. Already, Konomi is engaged in dialogue with some of the leading companies that make up the building blocks of the DeFi ecosystem.
As the next step in Konomi Network’s public sale, the project will be conducting a Community Sale for KONO token on Initial DEX Offering (IDO) platform Polkastarter. The number targeted for the community is 200,000 tokens for a total price of $200K, and each person will be maxed at $500 each. For more information about the IDO, follow Konomi Network on social media and community channels.
For media inquiries, please contact Kili Wall at (310) 260-7901 or Kili(at)MelrosePR(dot)com
About Konomi Network
Konomi is a full-suite asset management solution for cross-chain crypto assets. Using Substrate as the development framework, the network aims to support more assets in the Polkadot ecosystem. Users could manage their crypto holding positions, trade assets, and earn interest through decentralized money market products. Konomi also issues its native network token to kick start liquidity and decentralized governance.
Contact Konomi Network
Telegram: https://t.me/konominetwork
Twitter: https://twitter.com/KonomiNetwork
Medium: https://konomi-network.medium.com/
Official website: https://www.konomi.network
About Digital Finance Group
Digital Finance Group (DFG) is a global blockchain and digital asset investment firm that aims to support the maturation of the cryptocurrency ecosystem to create value for users. By taking an active role in project development, DFG fosters the growth of such protocols as Polkadot, Cosmos, Ethereum Classic, and Ethereum. Founded in 2015, the firm manages investments in excess of $550M. Portfolio companies include LedgerX, Bloq, Circle, and Ripio among others. Successful exits include Brave and Centre, where DFG was the lead investor to create and launch USDC.
Media Contact
Kili Wall, Melrose PR, (310) 260-7901, kili@melrosepr.com
SOURCE Digital Finance Group
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