SINGAPORE, May 10, 2021 /PRNewswire/ -- Moma Protocol, an innovative solution to solve scalability, liquidity and speculation needs in the current DeFi lending market, has completed a $2.25 million dollars round of funding led by Fundamental Labs and SevenX Ventures.
Moma Protocol creates, manages, accelerates, and aggregates lending markets through a proprietary smart contract factory, creating an ecosystem that allows for the infinite expansion of lending liquidity and market diversity. Moma Protocol was incubated and supported by Lichang, a community App with over a million registered users. Since the protocol's concept inception, the concept of "improving the scalability of the DeFi lending market" has been favored by the crypto market and recognized by the community.
The investors in this round include Fundamental Labs, a highly reputable blockchain fund that has invested in Coinbase, and also SevenX Ventures, which has over 100 successful investments in it's portfolio, as well as other investors including AU21 Capital, Blocksync Ventures, BuildingBlocks, Coins Group, Consensus Investment, DFG Capital, FBG Capital, Finlink Capital, Lotus Capital, Magnus Capital, Moonrock Capital, Moonwhale Ventures, Oasis Capital, Spark Digital Capital, Waterdrip Capital, X21 Digital and Zee Prime Capital. (Participating institutions in alphabetical order).
As an ecosystem with unlimited expansion of lending liquidity and market diversity, Moma Protocol can enrich the DeFi lending market by opening up new lending markets for long-tail digital assets.
SevenX's spokesperson pointed out the reason for his bullish view on the Moma Protocol: "As the most important foundation pillar of DeFi architecture - the lending agreement, Moma has made a unique and permissionless innovation here, which greatly enriches the diversity of the market. It has huge potentials to become a scalable platform covering both the mainstream and long tail digital assets."
Commenting on the investment in Moma Protocol, FBG's founder Shuji Zhou 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."
Moma Protocol's Founder and CEO, Ocean Liao commented, "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. I am optimistic about the DeFi ecology and the lending scenario, and I am happy to be able to drive Moma Protocol to explore the future with the infinite liquidity-generating factory model that fascinates me the most. We are ready to set sail!"
About Moma Protocol
As a solution to meet users' demand for liquidity, scalability, and speculation needs in the DeFi lending markets, Moma Protocol produces, manages, accelerates and aggregates the lending market through a proprietary smart contract factory, creating an ecosystem that can expand infinitely in lending liquidity and market diversity. The beta version of the product has currently been online and the official version of the product will be live in Q2 2021.
Master Degree at Fudan University, senior programmer, serial entrepreneur in the blockchain industry with solid experience in initiating projects such as Gravity (300,000 users), Lichang (1 million users), TokenUp wallet (100,000 users); respected veteran in the Chinese community.
Master Degree at Fudan University, senior blockchain developer, independently led the development, testing, and deployment of two Ethereum-based DeFi projects, and was involved in the launch of the mainnet and application development of blockchain projects such as EOS, Platon and Worbli.
Co-founder of Coins Group, a crypto fund based in Hong Kong, 12 years of experience in digital marketing and internet start-up building; 4 years of experience in blockchain investment and project incubation, invested in over 30 blockchain projects.
SOURCE Moma Finance