Oin Finance, a British Virgin Islands-based DeFi company building liquidity pool lending platforms on the Ontology blockchain with cross-chain functionality, closed a $1m private sale round.
The round included blockchain investors such as FBG Capital, Blockwater VC, GBIC, Alameda Research, FTX, Signum Capital, Ruby Capital, CMS, and Waterdrip Capital.
OIN’s public sale is set for August 26th. Participation in the public round will be determined by a lottery draw to “provide the fairest way for our community, as the interest in the project greatly outweighed what our funding plans allowed for,” as explained by CEO Renard Zhang. The public round will soon be followed by listing on a Decentralized Exchange, or DEX, and a listing on a centralized exchanged at a later date.
OIN will be the first DeFi platform to provide liquidity mining through their Decentraized Exchange, and a loan platform starting with the Ontology platform, and expand to other top platforms through cross-chain functionality. OIN will build the bridge technology to integrate Ethereum to start into its ecosystem, opening up to all of the current DeFi space.
Most recently, OIN has announced a partnership with Qtum, one of the leading open-sourced blockchain application platforms, who will be included in OIN’s ecosystem similar to how ETH is being integrated.