OIN FINANCE, a DeFi company building liquidity pool lending platforms on the Ontology blockchain with cross-chain functionality, has announced the successful close of a $1 million private sale round after seeing over $10 million in commitments. The oversubscribed round included leading blockchain investors such as FBG Capital, Blockwater VC, GBIC, Alameda Research, FTX, Signum Capital, Ruby Capital, CMS, and Waterdrip Capital.
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- The private round was oversubscribed by more than 10x.
- The investors were hand-picked to provide the most strategic value to create synergies.
- OIN’s public sale is set for August 26th.
In continuation of OIN’s successful seed and private rounds, OIN will be offering a public round set for August 26th, 2020. Participation in the public round will be determined by a lottery draw to “provide the fairest way for our community, as the interest in the project greatly outweighed what our funding plans allowed for,” explained CEO Renard Zhang. The public round will soon be followed by listing on a Decentralized Exchange, or DEX, and a listing on a centralized exchanged at a later date.
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OIN is Building a Robust Product Suite for DeFi
OIN’s success and the greater blockchain community’s interest in the project is tied to the DeFi industry’s demand for innovative solutions that help propel the ecosystem forward. OIN will provide users a way to provide liquidity to their DEX, essentially becoming market makers of their own through their first product, OINSWAP. This will be followed by OINLEND, a lending platform that allows users to leverage their cryptocurrency assets. By providing cross-chain functionality for both these products, OIN aims to “integrate the fragmented DeFi market to create an infrastructure that will unlock trapped value.”
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