HomeCrypto NewsDeFiDeFi Startup MoHash Raises $6 Million in Seed Funding

DeFi Startup MoHash Raises $6 Million in Seed Funding

Defi startup MoHash recently raised $6 million in seed funding.

Stability and sustainability, words often associated with cryptocurrency and decentralized finance, have had their mettle tested in the current macroeconomic landscape at the global level. Many coins that previously were thought to have intrinsic value within their tokens have evidenced their lack of congruency by surprisingly plummeting due to their lack of liquidity. 

Binance, the largest cryptocurrency site, has reported that popular tokens LUNA and UTC (Luna tethered to USD) have reached a value of almost nil. While this may show an isolated incident, the recent collapse of overall liquidity due to the Web3.0 landscape has challenged the way that DeFi is pricing current projects.

MoHash to Address The Sustainability Gap

The DeFi landscape in the early days of crypto has assumed a continuous bull market, in both the traditional capital markets as well as those of digital assets. With yields on tethered coins and leading projects Bitcoin and Ethereum as high as 9%, digital assets and their platforms were mistakenly used as collateral that produced exponentially higher results than other financial institutions. This fallacy was also witnessed in the market collapse of 2008, where tranches of mortgages were thought to be “sure things” and led to the unweaving of a very interconnected web.

Arun Devarajan, Founder and Executive of MoHash, believes that the average person should have access to more sustainable projects, ones that are able to both guard their liquidity, as well as provide predictable collateral against future loans in the Web 3.0 landscape. It is no surprise that the economic growth of sovereigns has developed at a much faster rate through the introduction of DeFi, and everyone needs safer assets to conduct business with: both as a storage of value and a medium of exchange.

Devrajun is taking a look at the world’s yields and examining their sustainability. To the chagrin of crypto enthusiasts, DeFi isn’t as decentralized as was previously conceived, as the general direction of the world’s economic outlook and performance is having an impact both on capital markets and cryptocurrency exchanges.

MoHash Goes Beyond The Coin

When Satoshi first created blockchain technology, he had no idea the profound effect it would have on the world. While most of DeFi is currently looked at for its value tethered to different coins, Devarajan wants to surpass the growth of the decentralized markets to go beyond the volatility of the cryptocurrency exchanges. This can be comparable to the performance of the secondary stock market. A company’s performance on the secondary market does not necessarily have an indication of its business success, but rather the investor sentiment.

Devarajan says in a recent interview that “Crypto has one great use case of trading, but it swings with the wind. There’s a lot more things you can do with the same infrastructure.” Mohash is looking at creating these same assets for storing value to improve the yields of enterprises, countries, and regular investors. They are working with big names in the industry to tackle this puzzle, including Goldman Sachs, Amazon, and Samsung. They have announced a recent influx of $6 million in seed funding by multiple CAPM ventures. Devarajan says that they will be using these funds to begin transacting throughout the world, starting with institutional investors and HNW individuals with transaction sizes of $1MM and above.

MoHash is excited to leverage the strength of the blockchain and decentralized environment to help solve problems in the real world, even those that are tied to the traditional capital landscape.

Source: https://techcrunch.com/2022/06/30/mohash-raises-6m-seed-funding-to-bring-sustainable-stable-yields-to-defi/

The Crypto News Talk Editorial Team delivers the latest news and updates from throughout the world of crypto. Crypto News Talk experts scour the cryptosphere 24/7 for the latest developments on Bitcoin, Ethereum, coins, exchanges, ICOs, NFTs, DeFi, and more, ensuring you get the relevant, groundbreaking crypto news and content you need when you need it most.

No Comments

Sorry, the comment form is closed at this time.