Quasar Finance is a decentralized asset management protocol on the Cosmos blockchain ecosystem. According to the announcement, this project is launching its mainnet to help investors manage their digital assets across multiple blockchains.
Launching Quassar Finance’s Mainnet
Quasar Finance aims to become the leading decentralized asset management platform by connecting blockchains with Inter-Blockchain Communication. The project, which set out in line with this goal, raised 5.4 million dollars at a valuation of 70 million dollars in a financing round led by Shima Capital in early 2023. In addition, it has managed to increase the amount of funds it has raised to over $11.5 million so far.
In a press release, the company said: “Powered by IBC-enabled smart contracts, Quasar’s goal is to empower investors with easy access to the emerging interchain landscape of numerous individual blockchains, within the Cosmos ecosystem and beyond,”
DeFi and Security
After the failure of centralized exchanges like FTX, both the crypto community and investors have increased their focus on decentralized finance (DeFi) and security.
Quasar Finance aims to solve these problems by creating a private layer protocol that allows investors to deposit funds into permissionless, non-custodial investment vehicles known as “vaults” that are optimized to work across multiple blockchains, the company said in a press release.
The system is also designed to eliminate the need for cross-chain bridges, which have proven risky for DeFi investors, causing losses of over $2 billion in 2022 alone.
Valentin Pletnev, leader, and co-founder of Quasar Finance said: “Quasar’s mainnet launch is expected to attract more liquidity providers and strategists looking to crowdsource interchain capital, while providing more yield opportunities for individual LPs,”
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