Omphalos Raises 2 Million to Build an Elastic DeFi Protocol

Omphalos

Omphalos
Omphalos
Omphalos

SAN FRANCISCO, Oct. 01, 2020 (GLOBE NEWSWIRE) — Omphalos, a famous blockchain technology company that plans on building an elastic digital asset protocol for the global decentralized financial system has just raised over $2 million in seed and private sale backed by Altar Fund, Quan Capital, RedMars and ChainStrategy. Omphalos received an overwhelming interest in the seed round and have been significantly over-subscribed, showing that investors have turned to stable DeFi protocols, particularly those offer less volatility and cross-chain solutions.

The seed funds will be used to develop a stable multichain DeFi (decentralized finance) product reminiscent of Polkadot network offering, that allows stable digital asset and encrypted messages to be validated and securely transacted in multiple decentralized financial ecosystems. The raise will also bolster its grant program, Omphalos Grant, which will help developers to access and build innovative applications via the Omphalos protocol.

Omphalos, aka OMPL, focuses

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