According to Foresight News, Elys Network, a DeFi Layer1 application chain in the Cosmos ecosystem, recently announced the completion of a $2.5 million seed funding round. The round saw participation from Comma3 Ventures, Cogitent Ventures, Persistence One, and Kahuna.
Elys Network operates as a DeFi Layer 1 application chain on the Cosmos Hub. It offers native Bitcoin collateral, automated market making, and multi-asset index pools.
