Decentralized Financial Protocol Moma Raises $2.25 Million From Venture Capitalists
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Decentralized Financial Protocol Moma Raises $2.25 Million From Venture Capitalists

May 7, 2021      Sahaj Sharma

The decentralized financial protocol aimed at lending and borrowing practices, Moma Protocol has recently shared the details of its funding round that has been completed successfully. The net amount of funds raised from the funding round accounts for $2.2 million.

Decentralized Financial Protocol Moma has Completed Funding Round

Fundamental Labs and SevenX Ventures lead the funding round and it should be known that the Fundamental Labs was included in the list of earliest investors of the leading U.S. exchange Coinbase.

Talking further about SevenX Ventures, it scored over 100 successful investments into the projects that were focused on crypto.

In addition to this, the funding round managed to get support from the VC veterans who were oriented towards blockchain technology, AU21 Capital, X21 Digital, Moonrock, DFG Capital, and FBG Capital.

Moreover, it should be noted that the Round participants are more than excited about the technology and marketing anticipations of the Moma Protocol. 

Shuji Zhou, the Founder of FBG has claimed that Moma Protocol will be curing the most irritating pains of nascent Defi lending markets. Shuji said:

“The Defi market has seen explosive growth over the past year, with more and more assets being swept up in the Defi wave.”

“Moma Protocol meets the lending needs of long-tail assets by providing a proprietary smart contract factory that combines the strengths of Uniswap and Compound, to produce an unlimited number of customizable lending pools, thereby bringing more assets into the current lending market to increase the liquidity, diversity, and scalability of the Defi ecosystem, which is something to look forward to.”

Mainnet Iteration of the Protocol to be the Backbone of the Decentralized Lending Ecosystem

Ocean Liao, the Founder, and CEO of Moma Protocol stated:

“I believe that the goal that Moma Protocol wants to achieve is to create an expandable, scalable, and flexible infrastructure for the Defi world in 5-10 years, in a way that everyone can freely participate.”

Hence, it can be expected that the progress fueled by the latest funding round will be improving the long-term reliability and profitability of the decentralized lending protocols segment.

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#Decentralized Financial #Moma Protocol
Sahaj Sharma
Sahaj Sharma

Sahaj is an aspiring journalist with a keen interest in cryptocurrency and the whole concept of Blockchain technology. He is positive about the future potential of Cryptocurrency and Blockchain in shaping the world of finance for good. At present, he is covering the latest developments in the field of the cryptosphere.