Oasis.app, a DeFi platform that allows users to borrow, leverage, and otherwise manage risk with cryptocurrencies while earning yield on their assets, has raised $6 million in a Series A funding round led by Libertus Capital, according to a press release obtained by Coin Journal.
Other investors in the round included Road Capital and several notable angel backers from the DeFi space.
Funds will be used to develop products and grow the team
Oasis secured $6 million in a mix of cash and digital assets. This Series A follows a $5 million seed round from UDHC Finance in June 2021, which came after Oasis was spun out of the Maker Foundation during its winding-down process.
The Oasis team plans to use the new capital to continue product development, expand its team, and strengthen its brand identity.
Libertus said:
We are excited to partner with the Oasis team as they continue building products and tools that enable DeFi users to deploy and manage capital in a seamless and secure way. The Oasis team has built the number one DeFi app for interacting with the Maker protocol. With this funding, we look forward to seeing them bring world-class smart contracts and security expertise to the broader DeFi ecosystem.
Chris Bradbury, CEO of Oasis.app, added:
The journey has been incredible. We are proving the vision of being the most trusted place in DeFi to deploy and manage capital. This latest funding allows Oasis.app to scale the features our community is looking for. As a team, we are humbled to work with incredible investors who are helping propel us forward with their experience in the space. This is a big moment for DeFi: users not only see the potential, they are finding the technology to access it. DeFi is still in its early stages, and we are excited to drive the next phase of adoption.
About Oasis.app
Oasis.app is a DeFi platform that lets users access crypto, swap tokens, borrow Dai using crypto as collateral, or combine these capabilities. Trading volume on its leverage-enabled features surpassed $1 billion within just six months of launch.