George City, BVI, 2 Might 2023, Chainwire
The Nolus DeFi Lease affords as much as 150% financing on the preliminary funding with diminished margin name danger and entry to underlying leveraged property.
Nolus, an interoperable utility on Cosmos, secured $2.5 million in pre-seed and seed funding to sort out inefficiencies in DeFi cash markets.
The not too long ago closed $20 million seed seed funding is backed by Dorahacks, Everstake, Cogitent Ventures, Token Metrics Ventures, and Autonomy Capital, amongst others, and can permit Nolus to completely full the expertise spine and increase additional the platform inside and outdoors the Cosmos. ecosystem. Advisory board members Zaki Manian, Strangelove and Shane Molidor will make sure that Nolus strengthens its cross-channel presence.
Nolus’ new DeFi Lease resolution unlocks the total potential of cryptocurrency markets by lowering the business’s excessive overcollateralization necessities, leading to considerably improved capital effectivity and way more favorable lending choices for the customers. Nolus DeFi Lease offers as much as 150% funding on preliminary funding with diminished margin name danger and entry to underlying leveraged property by whitelisted yield methods. With the added help for liquid staking derivatives, the Nolus protocol will create a elementary use case for LSDs for the Cosmos ecosystem within the type of self-repaying loans.
About Nolus
Nolus defines a cash market between lenders seeking to earn yield on deposited stablecoins and debtors seeking to amplify holdings with extra property than their present lower-risk, retained-ownership fairness.
The protocol makes use of a semi-authorized PoS blockchain constructed utilizing the Cosmos SDK and a WASM good contract engine that runs in an remoted sandbox mannequin targeted on interoperability, safety, and efficiency. Interoperability itself is on the coronary heart of Nolus’ providing, because the protocol makes use of IBC and Interchain accounts to function a various set of liquidity facilities with out creating fragmentation between chains.
After months of testing, Nolus will open its public mainnet in Might.
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Advertising and marketing and communication, Nolus Protocol, (e-mail protected)