{"id":514726,"date":"2022-11-23T17:00:00","date_gmt":"2022-11-23T14:00:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/defi-protocol-raises-10m-from-bitfinex-ava-labs-despite-turbulent-market\/"},"modified":"2022-11-23T17:00:00","modified_gmt":"2022-11-23T14:00:00","slug":"defi-protocol-raises-10m-from-bitfinex-ava-labs-despite-turbulent-market","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/defi-protocol-raises-10m-from-bitfinex-ava-labs-despite-turbulent-market\/","title":{"rendered":"# DeFi protocol raises $10M from Bitfinex, Ava Labs despite turbulent market"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_89 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6af94762d3114\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6af94762d3114\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/defi-protocol-raises-10m-from-bitfinex-ava-labs-despite-turbulent-market\/#%E2%80%9D_DeFi_protocol_raises_10M_from_Bitfinex_Ava_Labs_despite_turbulent_market_%E2%80%9C\" >&#8221; DeFi protocol raises $10M from Bitfinex, Ava Labs despite turbulent market  &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_DeFi_protocol_raises_10M_from_Bitfinex_Ava_Labs_despite_turbulent_market_%E2%80%9C\"><\/span>&#8221; DeFi protocol raises $10M from Bitfinex, Ava Labs despite turbulent market  &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMTEvZTVjNjUwYTUtZTQzZi00OGI1LTg2MGItYmJjMzkyOWNmODExLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-5129e2ea>The ongoing crypto bear market has proven itself to be a builders market as investments continue to find projects with promise.<\/p>\n<p>Onomy, a Cosmos blockchain-based ecosystem, just secured millions from investors for the development of its new protocol. The project merges decentralized finance (DeFi) and the foreign exchange market to bring the latter on-chain.<\/p>\n<p>According to the developers, the latest funding round garnered $10 million from big industry players such as Bitfinex, Ava Labs, the Maker Foundation and CMS Holdings among others. <\/p>\n<p>Lalo Bazzi, co-founder of Onomy, said the underlying goal of building a decentralized autonomous organization with a public infrastructure should serve the \u201ccore tenant of crypto \u2014 self-custody \u2014 without sacrificing on the user experience.\u201d<\/p>\n<p>Both DeFi and self-custody have been hot topics in the crypto community due to the FTX liquidity-bankruptcy scandal. Some experts have said that one of the major lessons to take away from the situation is\u00a0the value of DeFi platforms compared to centralized gatekeepers.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Bank for International Settlements will test DeFi implementation in forex CBDC markets<\/em><\/strong><\/p>\n<p>Forecasts for the near future of the industry have shown a mixture of another tough year while still holding investors\u2019 interest.<\/p>\n<p>According to a Coinbase-sponsored survey that was conducted between Sept. 21 and Oct. 27, institutional investors are still keen on the space. It revealed that 62% of surveyed institutional investors with crypto investments increased their positions in the past year.<\/p>\n<p>On Nov. 9, just days into the FTX scandal, Cathie Wood of ARK Investment\u00a0added an additional $12.1 million to the company\u2019s existing shares in Coinbase. Additionally, banks\u00a0continue to show interest in the industry, with JP Morgan using DeFi for cross-border transactions and BNY Mellon launching its own Digital Asset Custody Platform.<\/p>\n<p>Still, some research\u00a0predicts a continuation of tough conditions for the blockchain industry, which have the potential to last into the upcoming year.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"defi_newsletter\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/defi-protocol-raises-10m-from-bitfinex-ava-labs-despite-turbulent-market\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; DeFi protocol raises $10M from Bitfinex, Ava Labs despite turbulent market &#8220; The ongoing crypto bear market has proven itself to be a builders market as investments continue to find projects with promise. Onomy, a Cosmos blockchain-based ecosystem, just secured millions from investors for the development of its new protocol. The project merges decentralized&#8230;<\/p>\n","protected":false},"author":1,"featured_media":514727,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMTEvZTVjNjUwYTUtZTQzZi00OGI1LTg2MGItYmJjMzkyOWNmODExLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74863,74868,75916,115107,73711],"class_list":["post-514726","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-cryptocurrencies","tag-defi","tag-dex","tag-forex","tag-investments"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/514726","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=514726"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/514726\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/514727"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=514726"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=514726"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=514726"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}