According to Foresight News, Elys Network, the DeFi Layer1 application chain of the Cosmos ecosystem, recently announced the completion of a US$2.5 million seed round of financing, with participation from Comma3 Ventures, Cogitent Ventures, Persistence One, Kahuna and others.

Elys Network is a DeFi Layer 1 application chain on the Cosmos Hub, providing native Bitcoin staking, automated market making, and multi-asset index pools.