Omphalos Raises 2 Million to Build an Elastic DeFi Protocol

Omphalos

Thu, Oct 1, 2020, 6:45 PM2 min read

Omphalos

SAN FRANCISCO, Oct. 01, 2020 (GLOBE NEWSWIRE) -- Omphalos, a famous blockchain technology company that plans on building an elastic digital asset protocol for the global decentralized financial system has just raised over $2 million in seed and private sale backed by Altar Fund, Quan Capital, RedMars and ChainStrategy. Omphalos received an overwhelming interest in the seed round and have been significantly over-subscribed, showing that investors have turned to stable DeFi protocols, particularly those offer less volatility and cross-chain solutions.

The seed funds will be used to develop a stable multichain DeFi (decentralized finance) product reminiscent of Polkadot network offering, that allows stable digital asset and encrypted messages to be validated and securely transacted in multiple decentralized financial ecosystems. The raise will also bolster its grant program, Omphalos Grant, which will help developers to access and build innovative applications via the Omphalos protocol.

Omphalos, aka OMPL, focuses on the decentralized finance space. Since 2018, Omphalos' team has established an innovative and comprehensive research on elastic-supply DeFi protocol, making it one of the few DeFi companies offering a stable protocol with multichain interoperability. The company has set the goal on becoming a fully decentralized and open source platform for the next generation of web3 open financial applications in the next three years.

Omphalos's co-founder explains, "Omphalos is a solution to the pain point of the multi-billion-dollar DeFi industry, where most types of digital assets are suffering from high levels of price volatility and unfit for large scale financial institutions. Omphalos (OMPL) with the built-in elastic price stabilizing mechanism will be a game changer for decentralized finance network!"

Social links

Twitter: https://twitter.com/omphalosdefi

Telegram: https://t.me/omphalosdefi

Media contact

Company: Omphalos

Community Manager: Davorin Bebek

Phone: +1-510-6066465

Email: hello@omphalos.co

Address: 1355 Market St #488, San Francisco, CA 94103

Official Site: https://www.omphalos.co/

SOURCE: Omphalos

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/aadd3210-a092-4590-a24d-b35164848fae

The US could give homeowners a $980 billion stimulus at no additional cost, 'Oracle of Wall Street' says
"As early as this summer, a proposed move could begin to unleash almost $1tn into consumers' wallets. By the autumn, it could be on its way to $2tn."
Business Insider
A 64-year-old 'peak boomer' worries his savings and Social Security won't be enough to retire: 'My biggest fear is finding myself at 75 standing at the door at Walmart.'
David Kirsch, 64, is hoping to live comfortably in retirement — but he isn't sure his savings and Social Security will cover his living expenses.
Business Insider
Suze Orman Calls The 4% Retirement Rule 'Very Dangerous' In Today's Challenging Economic Climate
Many Americans wonder how much money to withdraw from their retirement savings each year, and financial expert Suze Orman believes that the 4% retirement rule is no longer the answer. Orman, known for her blunt and hard-hitting financial advice, discussed why so many Americans are living paycheck to paycheck and her opinion on retirement savings during an interview with SecureSave Co-Founder Devin Miller for Moneywise Don't Miss: The average American couple has saved this much money for retireme
Benzinga
Berkshire pares huge Apple stake as cash, operating profit set records
Berkshire Hathaway significantly reduced its enormous stake in Apple in the first quarter, as Warren Buffett's conglomerate let its cash hoard swell to a record $189 billion. Buffett's company also posted a record operating profit exceeding $11 billion, as its insurance operations benefited from improved underwriting and higher income from investments as interest rates rose. The value of Berkshire's stake in Apple fell 22% to $135.4 billion as of March 31 from $174.3 billion at the end of 2023, even though the iPhone maker's share price fell just 11% in the quarter.
Reuters
DJT Stock Falls. SEC Charges Trump Media Auditing Firm With ‘Massive Fraud.’
The SEC charges the company’s auditing firm BF Borgers CPA and its owner Benjamin Borgers with ‘massive fraud.’
Barrons.com
Forget Altria: Could This Be the Safest Dividend Stock to Own?
Investors who buy Altria's stock for its dividend could be taking on some considerable risk.
Motley Fool
The CEO Who Hired His Wife, Gave His Dog a Title, and Brought Down a Bank
Vernon Hill’s Commerce Bancorp was about to open its first New York City branch in 2001 when his wife, Shirley, called wanting to know whether dogs could be allowed inside. Shirley Hill, also the branch designer, had been stopped from bringing the couple’s Yorkshire terrier, Sir Duffield, into other banks. Vernon Hill, the bank’s founder and chief executive, declared it “just another stupid bank rule” and launched a campaign to encourage dogs to visit Commerce.
The Wall Street Journal
4 Dividend Kings Poised for Growth, According to Analysts
Dividend Kings are an elite group of companies that have consistently increased their dividends for at least 50 consecutive years. These companies have demonstrated a remarkable ability to generate steady cash flows and reward shareholders with ...
Benzinga
Why I Just Bought More of This Ultra-High-Yield Dividend Stock
This energy stock is too good to resist.
Motley Fool
Billionaires Bill Gates and Warren Buffett Both Own This Stock -- and It's Trounced the S&P 500 Over the Long Run
This stock is clearly a favorite of both famous billionaires.
Motley Fool

News

Life

Entertainment

Finance

Sports

New on Yahoo

Yahoo Finance

Omphalos Raises 2 Million to Build an Elastic DeFi Protocol

Omphalos

Omphalos

Recommended Stories

The US could give homeowners a $980 billion stimulus at no additional cost, 'Oracle of Wall Street' says

A 64-year-old 'peak boomer' worries his savings and Social Security won't be enough to retire: 'My biggest fear is finding myself at 75 standing at the door at Walmart.'

Suze Orman Calls The 4% Retirement Rule 'Very Dangerous' In Today's Challenging Economic Climate

Berkshire pares huge Apple stake as cash, operating profit set records

DJT Stock Falls. SEC Charges Trump Media Auditing Firm With ‘Massive Fraud.’

Forget Altria: Could This Be the Safest Dividend Stock to Own?

The CEO Who Hired His Wife, Gave His Dog a Title, and Brought Down a Bank

4 Dividend Kings Poised for Growth, According to Analysts

Why I Just Bought More of This Ultra-High-Yield Dividend Stock

Billionaires Bill Gates and Warren Buffett Both Own This Stock -- and It's Trounced the S&P 500 Over the Long Run