MonoX raise $5M to launch single-token liquidity pools
The automated market maker is currently in beta development and set to launch in Q3 2021. Automated market maker MonoX has today announced a debut capital raise of $5 million from venture firms including the likes of Axia8 Ventures, Animoca Brands, Divergence Ventures, among others.MonoX will use the funds to support its ambitions in reducing the capital and liquidity prerequisites for decentralized finance (DeFi) projects offering swap, lending, borrowing and derivative capabilities on decentralized exchanges (DEXes).The protocol will achieve this through the introduction of a....
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The platform will offer a suite of four assets on Ethereum, and a further five on Polygon. Automated market maker (AMM) MonoX has announced the official launch of its mainnet platform, offering investors a full complement of swap and liquidity capabilities on the Ethereum and Polygon blockchain networks.With the release of this new service, Mono X is aiming to establish a cost-effective and accessible infrastructure for liquidity providers seeking to propel their projects to the market and traders interested in engaging in token swap services.In the case of traditional decentralized....
A disappointing week of exploits has put a temporary grim cloud over the end of 2021, with BadgerDAO and Huobi-listed MonoX suffering major losses. More than $150 million has been lost this week in separate security breaches at DeFi projects MonoX and BadgerDAO.Multi-chain decentralized exchange (DEX) MonoX (MONO) suffered a cyber attack on Nov. 30 leading to about $31 million in losses. BadgerDAO (BADGER) suffered a front-end attack that was discovered on Dec. 2 with estimates of Badger’s losses hitting more than $120 million. The MonoX DEX platform suffered a single attack on Nov. 30. In....
Liquidity pools offer passive income opportunities to investors — but how do they work? How can I join DeFi liquidity pools?The exact procedure for joining DeFi liquidity pools varies according to the platform. In general, one would need to set up an account on the platform of choice and then connect an Ethereum wallet such as MetaMask or other Web 3.0 wallets from the homepage. After that, tokens can be deposited into the relevant liquidity pool.On platforms, such as Uniswap, one would need to search for a specific pair they want to provide liquidity to and then connect the wallet. After....
Investors include Aave Ventures, Kyber Network, Sino Global, CoinFund, Spartan and others. Delta Exchange, a cryptocurrency derivatives platform, has successfully concluded a $5 million private sale of its native Delta Exchange Token (DETO), setting the stage for wider adoption of its retail derivatives marketplace. Some well-known names in decentralized finance, or DeFi, participated in the private sale, including Aave Ventures. Kyber Network. Sino Global, LuneX Ventures, BR Capital and others also participated in the sale. At the time of writing, the total market capitalization of DeFi....
Fixed Swap Pools will maintain the token price throughout the sale until the initial supply is bought. Polkastarter, a decentralized exchange on the Polkadot platform, is launching a mechanism for crowdfunding, with several projects lined up to offer token sales through the platform.Through a so-called “Fixed Swap Pool”, projects can list their tokens and set up a pool with a fixed per-token purchase rate.The product will go live on Dec. 15, and three projects will be using the platform to raise funds in the first three days of launch. These include two decentralized autonomous....