Quasar Finance, a Cosmos-based DeFi project, has raised $6 million from big-name blockchain VCs including Polychain Capital, Blockchain Capital, Figment Capital, Lightshift Capital, and Galileo.
Quasar CEO and co-founder Valentin Pletnev aims to make digital assets “simple, accessible and secure, while utilizing the Cosmos platform’s Inter Blockchain Communication (IBC) protocol, a powerful technology that connects and enables value and data transfer across chains, natively.”
Pletnev explained that hacks and exploits litter the decentralized finance sector and the time is right for a project that provides a service that “just works.”
“Quasar uses the latest in IBC technology to offer the most advanced and accessible structured investment products in DeFi. This is why we are bringing Quasar Finance to market, and is the reason we’ve received support from some of web3’s biggest investors.”
Quasar allows the creation of vaults where investors can park their assets to receive yield. At the same time, strategists and liquidity providers to develop and launch their own vaults.
Ben Perszyk from Polychain, said:
“Quasar abstracts away some of the complexity involved in earning lending yield, providing liquidity to AMM pools, or structuring delta-neutral strategies, and hides those capabilities behind an approachable, user-friendly frontend. By deploying their own application-specific IBC chain, Quasar then offers a powerful new suite of DeFi tools for end users, and positions themselves as a liquidity hub for the ever-expanding Cosmos DeFi ecosystem.”
Aleks Larsen, Blockchain Capital, added:
“Valentin is an exceptionally talented founder and we’re thrilled to back him and his team as they build the easiest way to earn yield on any IBC-enabled blockchain.”