AMM MonoX closes $5M funding round to launch economical liquidity pools

Automated market maker MonoX Protocol plans to disrupt traditional DeFi with cutting-edge, single-sided liquidity pools. The highly capital-efficient platform announced completion of a $5 million funding round, which will make token launches far more affordable than they are now. The round was led by Krypital Group with participation from Divergence Ventures, Youbi Capital, Axia8 Ventures, Animoca Brands, GenBlock Capital, 3Commas, Rarestone Capital, LD Capital, OP Crypto, and Blockdream. 

Ruyi Ren, founder and CEO of MonoX, said:

Developers save money, listing single tokens to build liquidity pair

Traditional DEX require developers to deposit two tokens to build a pair. With MonoX, they can list a single one, saving the extra capital. MonoX groups the tokens deposited with the vCASH stablecoin into a virtual pair, which assets in the MonoX pools back. This does away with capital inefficiencies and reduces fees because extensive transaction paths are avoided.

Maggie Wu, cofounder and CEO of Krypital Group, said:

The capital efficient AMM infuses liquidity to insurance and gaming tokens, synthetics, and other value-backed tokens (VBTs). You can now trade such assets with zero collateral.

MonoX will launch its mainnet on Polygon (MATIC/USD) and Ethereum (ETH/USD) in the third quarter of this year with full liquidity and swap features. The blockchain-agnostic platform will also launch on Solana soon.