October 1, 2022

Ethereum Reader

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MonoX Protocol Raises $5M to Facilitate New Launching Projects

<img width="300" height="169" src="https://ethereumreader.com/wp-content/uploads/2021/09/monox-protocol-raises-5m-to-facilitate-new-launching-projects.jpg" class="webfeedsFeaturedVisual wp-post-image" alt="MonoX Protocol Raises $5M to Facilitate New Launching Projects" style="display: block; margin-bottom: 5px; clear:both;max-width: 100%;" link_thumbnail="" srcset="https://ethereumreader.com/wp-content/uploads/2021/09/monox-protocol-raises-5m-to-facilitate-new-launching-projects.jpg 300w, https://coinquora.com/wp-content/uploads/2021/09/MonoX-Protocol-Raises-5M-to-Facilitate-New-Launching-Projects.jpg 730w" sizes="(max-width: 300px) 100vw, 300px" />Automated market maker MonoX Protocol has just announced the closing of a $5 million funding round. The protocol aims to

MonoX Protocol Raises $5M to Facilitate New Launching Projects

  • Automated market maker MonoX Protocol has just announced the closing of a $5 million funding round.
  • The protocol aims to facilitate new projects by removing the requirement of depositing two tokens for building a liquidity pair.
  • MonoX is now getting ready to launch its mainnet on Ethereum and Polygon in 2021 Q3.

Automated market maker MonoX Protocol has just announced the closing of a $5 million funding round. The raised funds will be used to develop the platform to make it more efficient for budding projects to launch their tokens.

The protocol aims to facilitate new projects by removing the requirement of depositing two tokens for building a liquidity pair. It enables developers to list their tokens without the worry of bringing another asset to pair with. This way projects can launch new tokens without extra capital as they wouldn’t have to bear the cost of a second token.

The funding round was led by Krypital Group, which is a leading global venture capital firm and blockchain incubator. Investors participating in the round included Axia8 Ventures, Animoca Brands, D…

Source: coinquora.com