Oxygen, a DeFi protocol based on Solana, attracts $40 million investment
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[Digital Today Reporter Chigyu Hwang] On the 25th, DeFi (decentralized finance, DeFi) brokerage transaction service Oxygen Protocol, announced on the 25th that it has attracted an investment of 40 million dollars.
Global cryptocurrency funds Alameda Research, Multicoin Capital, Genesis Capital, CMS Holdings, and Coin United participated in this investment.
Oxygen Protocol is a DeFi brokerage transaction service based on the blockchain platform Solana. Users can trade a variety of products such as deposits and loans, derivatives and margin trading, and structured products through Oxygen.
The major transactions made on Oxygen are handled through Serum, a decentralized exchange based on Solana. The company explained that Serum is developed based on Solana, a blockchain platform that can process about 56,000 transactions per second, so that transactions can be made at a fast and low fee.
Oxygen said, “In the future, Oxygen will be installed on Maps.me, an offline map application with 140 million users. Users will be able to use various decentralized financial products through Oxygen.” .
Author/ Translator: Jamie Kim
Bio: Jamie Kim is a technology journalist. Raised in Hong Kong and always vocal at heart. She aims to share her expertise with the readers at blockreview.net. Kim is a Bitcoin maximalist who believes with unwavering conviction that Bitcoin is the only cryptocurrency – in fact, currency – worth caring about.
