Omega will use these funds to introduce DeFi ecosystems to Bitcoin holders.
MIAMI, Feb. 6, 2024 /PRNewswire-PRWeb/ -- Omega announces the successful completion of $ 6 million in funding, solidifying its position as a pioneer in bringing native Bitcoin to the DeFi ecosystem. The funding was secured through three rounds of investment with participation from Lightspeed Faction, Borderless Capital and Wormhole Cross-Chain Ecosystem Fund (operated by Borderless Capital), Bankless Ventures, Wave Digital, Blockchain.com, Blockchain Founders Fund, Kronos Ventures, XTBO Humla, Cadenza, Psalion Ventures, AlphaLab Capital, Side Door Ventures, MH Ventures, and others.
The funding will be leveraged to launch the first decentralized infrastructure that enables Bitcoin holders to utilize the value of their Layer 1 Bitcoin for yield generation. Omega expects to launch its public beta within the next 60 days.
"We are excited to announce our funding from our esteemed investment partners," said Wes Cowan, Co-Founder and CEO of Omega. "This funding will allow Omega to continue our mission to push the boundaries of Bitcoin DeFi."
David Hoffman, General Partner of Bankless Ventures, shared, "We are thrilled to be part of Omega's funding round. Their forward-thinking approach to revolutionizing Bitcoin utility within the DeFi ecosystem aligns with our vision for the future of decentralized finance. Omega's commitment to innovation makes this investment an exciting opportunity for us to be part of another giant leap in what is possible for Bitcoin."
Phillipe Bekhazi, CEO of XBTO, added, "Omega's innovative protocol for Bitcoin yield generation caught our attention for its unique value proposition. This funding signifies not only a strong endorsement from the investment community but also a belief in the team's ability to forge new paths in the burgeoning DeFi economy. We look forward to witnessing the impact of this strategic investment on Omega's continued success."
"I am immensely proud of our team's unwavering dedication and innovative spirit," stated Eric Ryklin, Co-Founder and COO of Omega. "Our funding rounds are not just a financial milestone, but a testament to our vision of reshaping the DeFi landscape. Our focus now turns to delivering our public beta, which we believe will empower Bitcoin holders and significantly contribute to the evolution of Bitcoin DeFi."
Omega is committed to driving the next wave of advancements in Bitcoin DeFi, and this funding milestone positions the project for significant adoption in the coming months.
For media inquiries, please contact Jonathan Duran at (310) 260-7901 or Jonathan(at)Melrosepr(dot)com
About Omega
OMEGA.xyz is a Web3 infrastructure provider enabling the collateralization of idle bitcoin for yield generation in DeFi.
Media Contact
Jonathan Duran, Melrose PR, 3102607901, [email protected], https://www.melrosepr.com/
SOURCE Omega
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