- Moma Protocol has closed a funding round led by Fundamental Labs.
- The round raised $2.25 million from several investors.
- The investment will help fund Moma Protocol’s long-tail DeFi lending markets.
Moma Protocol has successfully closed a funding round which raised $2.25 million. Notably, the funding round was led by Fundamental Labs, which also invested in Coinbase.
However, apart from Fundamental Labs, other investors included SevenX Ventures, AU21 Capital, Blocksync Ventures, BuildingBlocks, Coins Group, and others.
As decentralized finance (DeFi) has exploded over the past year the sector has faced increasing challenges due to the unprecedented demand. As such, Moma Protocol aims to solve the scaling, liquidity, and speculative challenges faced in DeFi lending markets. In fact, the protocol’s smart contracts factory creates, manages, accelerates, and aggregates DeFi lending markets.
Thus, Moma Protocol supports an ecosystem that allows for infinite liquidity and diversification. In fact, Moma Protocol will use the funding to create infinite liquidity tools for long-tail DeFi lending markets.
Speaking on the investment SevenX noted,
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 potential to become a scalable platform covering both the mainstream and long tail digital assets.
Also, Moma Protocol is a community incubated project on the Lichang App. Lichang supports a community of over a million users. The protocol’s initiative to “improve the scalability of the DeFi lending market” has been particularly well received by the Lichang community.