The collapse of multibillion-dollar centralized crypto exchange FTX has put cryptos under a bad light but renewed the focus on the promise of decentralized finance and interoperability-focused protocols.
Quasar Finance, a decentralized asset management protocol using the Inter Blockchain Communication (IBC) technology released by the Cosmos blockchain, has raised US$5.4 million in a funding round led by Shima Capital at a US$70 million valuation. The protocol allows users to create and join vaults, or independent asset containers capable of connecting tokens and data transfers between chains. Other investors in the round included Polychain Capital, Blockchain Capital, HASH Capital, CIB and Osmo
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