MonoX Raises $5M to Disrupt Traditional DEXs Using Single-Sided Liquidity Pools
Summary
MonoX Protocol, the most capital-efficient automated market maker (AMM) in the DeFi space, is delighted to announce the closing of a $5 million funding round to make it economical for projects to launch their tokens using its innovative single-sided liquidity pools. Their novel approach to single sided liquidity is sure to help scale new emerging DeFi ecosystems like Solana and Avalanche. We look forward to their launch and will use our collective resources and expertise to help them succeed.” The platform groups the deposited tokens into a virtual pair with the vCASH stablecoin, which is backed by all assets in the MonoX pools. The single-sided liquidity design reduces trading fees by avoiding the lengthy transaction paths seen on traditional AMMs. We believe that their ideas can lower the barriers to entry for users, at the same time create greater value for the DeFi field.