According to BlockBeats, Bitcoin DeFi protocol Ordinox has successfully raised $1 million in a pre-seed funding round. The round saw participation from UTXO Management, Digital Asset Capital Management, CMS Holdings, Sats Ventures, Hidden Street, and STS Digital. Angel investors, including BRC20 founder Domo, also contributed to this round of funding.
Ordinox, which provides DeFi services on Bitcoin, is supported by the native liquidity pool based on Cosmos SDK. This funding will likely help Ordinox to further develop its platform and expand its services. The participation of notable investors and firms in this funding round underscores the growing interest and investment in the DeFi sector, particularly in protocols that are built on Bitcoin.
The DeFi sector has been gaining traction in recent years, with Bitcoin-based protocols like Ordinox leading the way. This funding round is a testament to the potential that investors see in DeFi protocols, and the role they can play in the future of finance. As the sector continues to grow and evolve, it will be interesting to see how Ordinox and other Bitcoin-based DeFi protocols leverage this funding to innovate and drive the industry forward.
