British Virgin Islands (BVI), Aug. 24, 2020 (GLOBE NEWSWIRE) — 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.
- 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.
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.”
Most recently, OIN has announced a partnership with Qtum, one of the leading open-sourced blockchain application platforms, who will be included in OIN’s ecosystem similar to how ETH is being integrated. OIN has received praise for its plans of integrating and including all crypto assets into its platform, helping users leverage the whole digital assets market.
The DeFi space has recently undergone a massive boom, becoming a $15 billion industry in recent weeks. The cumulative value of tokens locked in DeFi applications has surpassed a milestone of $1 billion. OIN’s bridging technology, providing cross-chain functions, has been a key selling point, as over 80% of the current value of DeFi is locked within the Ethereum network. By allowing users to utilize other blockchain networks, OIN will help unlock the rest of the crypto market for DeFi to leverage.
About OIN Finance
OIN will be the first DeFi platform to provide liquidity mining through their Decentraized Exchange, and a loan platform starting with the Ontology platform, and ultimately expand to other top platforms through cross-chain functionality. OIN will build the bridge technology to seamlessly integrate Ethereum to start into its ecosystem, opening up to all of the current DeFi space. The dedication to this end is reflected in a three-pronged mission: become the gateway into DeFi, promote the DeFi industry, and grow the DeFi Space to maturity.
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