- Nolus, an interoperable DeFi application on Cosmos, raised $2.5 million in pre-seed and seed funding.
- The funds will allow Nolus to complete the technological backbone and expand the platform within and outside the Cosmos ecosystem.
- The Nolus DeFi lease offers up to 150% financing on the initial investment, as well as access to the underlying leveraged assets.
Nolus, a Cosmos-based interoperable application, has received $2.5 million in pre-seed and seed funding to address inefficiencies in DeFi money markets.
Dorahacks, Everstake, Cogitent Ventures, Token Metrics Ventures, and Autonomy Capital, among others, contributed to the recently completed $20 million valuation seed funding, which will allow Nolus to fully complete the technological backbone and further expand the platform both within and outside the Cosmos ecosystem.
Members of the advisory board, Zaki Manian, Strangelove, and Shane Molidor, will help Nolus establish a cross-chain presence.
Nolus’ innovative DeFi lease solution unleashes the full potential of crypto money markets by lowering the industry’s steep over-collateralization requirements, resulting in significantly improved capital efficiency and substantially more favorable lending options for users.
The Nolus DeFi lease offers up to 150% financing on the initial investment, as well as access to the underlying leveraged assets via whitelisted yield-bearing strategies.
With the addition of liquid staking derivatives, the Nolus protocol will create a cornerstone use case for LSDs in the Cosmos ecosystem in the form of self-repaying loans.
About Nolus
Nolus defines a money market as a transaction between lenders seeking a yield on deposited stablecoins and borrowers seeking to diversify their holdings with more assets than their current equity while retaining ownership.
The protocol uses a semi-permission PoS blockchain built with the Cosmos SDK and a WASM smart contract engine that runs in an isolated sandbox model that prioritizes interoperability, security, and performance.
Interoperability is at the heart of Nolus’ offering, as the protocol uses IBC and interchain accounts to access diverse liquidity hubs without fragmenting chains.
Nolus will launch its public mainnet in May 2023, following months of testing.
