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Oasis.app, the platform allowing decentralized finance (DeFi) users to borrow, multiply their exposure to cryptocurrency and earn on their assets, has raised $6 million in funding during a Series A funding round led by Libertus Capital. Other investors, including Road Capital and high-profile angels in the DeFi space, also contributed to the funding round. The $6 million in funding was received in both cash and crypto.

This funding follows the project’s initial seed round of $5 million from UDHC Finance back in June 2021, when Oasis left Maker Foundation as part of its dissolution. 

The Oasis.app team will utilize this latest funding to develop its product offering further, expand its team and improve its brand identity. 

“We’re excited to partner with the Oasis team as they continue to build out products and tools that enable DeFi users to seamlessly and safely deploy their capital. The Oasis team has so far built the number-one DeFi app to interact with Maker Protocol. With this funding, we look forward to them bringing their world-class smart-contract and security expertise into the broader DeFi ecosystem,” said a Libertus representative.

“It’s been an incredible journey so far. We’re proving our vision of becoming the most trusted place in DeFi to deploy and manage capital. This latest funding allows Oasis.app to scale the features our community will be looking for next. As a team, we are humbled to be working with such incredible investors who are already taking us forward with their experience in this space. 

This is a big time for DeFi, as users are not only seeing the potential but finding the tech to access it. It’s still early days for DeFi, and we are excited to be driving the next phase of adoption,” said Chris Bradbury, CEO of Oasis.app.

About Oasis.app

Oasis.app is a DeFi platform for users to swap tokens, borrow Dai against their favorite cryptocurrencies or increase their exposure. Recently, trading volume on the project’s Multiply feature passed $1 billion just six months after its release. The Oasis.app mission is to provide the most secure, trusted entry point to deploy capital in DeFi. The team is composed of passionate thinkers and builders driven to create a better user experience for all while being able to maximize returns. For more information, visit oasis.app.

This publication is sponsored. Cointelegraph does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to the company. Cointelegraph is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.

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