Cosmos based DeFi agreement Quasar received $11.5 million in financing

According to reports, Quasar Finance, a decentralized asset management agreement on the Cosmos chain, stated in a press release on Thursday that after raising $5.4 million at a valuation of $70 million in a round of financing led by Shima Capital earlier this year, the total amount raised exceeded $11.5 million.

Interpretation of this information:

Quasar Finance, a decentralized asset management agreement operating on the Cosmos chain, has raised $5.4 million in a round of financing led by Shima Capital. This brings the company’s total funding to over $11.5 million, with a valuation of $70 million.

Decentralized asset management agreements have been gaining traction in the cryptocurrency space as a way to manage digital assets in a decentralized and autonomous manner. Quasar Finance is among the many companies working to create a seamless and reliable platform for users to manage their digital assets, without compromising on security or privacy. The Cosmos chain, on which Quasar operates, is also a growing network of blockchain projects and technologies that aim to make it easier for developers and users to interact with one another.

This recent funding round is a positive sign for Quasar Finance and its ambitions to create an effective decentralized asset management platform. The fact that the round was led by Shima Capital, a well-known name in the cryptocurrency space, is also a testament to the potential that Quasar holds in the market.

Overall, Quasar Finance’s success highlights the growing interest in decentralized asset management platforms, which are seen as critical to the future of the cryptocurrency industry. As the space continues to evolve and mature, companies like Quasar Finance will play an important role in shaping the industry’s future and ensuring that users are able to take full advantage of the benefits that blockchain technology has to offer.