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MonoX Protocol Raises $5M to Facilitate New Launching Projects By CoinQuora


MonoX Protocol Raises $5M to Facilitate New Launching Projects
  • Automated market maker MonoX Protocol has just announced the closing of a $5 million funding round.
  • This protocol will facilitate new projects through removing the need for two token deposits to create a liquidity pairing.
  • MonoX is now getting ready to launch its mainnet on and Polygon in 2021 Q3.

MonoX Protocol, an automated market maker, has announced that it closed a $5 Million funding round. This money will be used for the development of the platform that makes it easier to allow budding projects launch tokens.

Protocol eliminates requirement to have two tokens available for liquidity pairings. This protocol allows developers to list tokens, without having to bring another asset. This way projects can launch new tokens without extra capital as they wouldn’t have to bear the cost of a second token.

Krypital Group led the funding round. This is Krypital Group which is an international venture capital firm as well as a blockchain incubator. Investors participating in the round included Axia8 Ventures, Animoca Brands, D…

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