Funding is a big boost to any project but doubly so for startups. Any project looking to make it big especially in a competitive space like cryptocurrency will be hard pressed to do so without adequate capital. As such, Pontoon Finance, the project looking to bring liquidity to the dynamic DeFi space has completed a successful funding round.
The funding round raised over 3.2 million dollars from leading venture capital firms such as Black Edge Capital, Morning Star Ventures, Amesten Capital, X21, Draper Dragon Funds, Ex Network, GenBlock and strategic partners.
As per the official sources, the project has also announced its intentions to launch its IDO in October. Although expected to have been held a while ago in the second quarter of the year, it seems the Pontoon team is gearing towards auditing its smart contracts in the light of fixing any bugs or security vulnerabilities and scrutinizing the smart contract code to avoid future risks.
The IDO is expected to launch on HotCross in October and with the team relentlessly working towards delivering outstanding updates to drive investor confidence. Amidst launchpads such as Polkastarter, BINANCE Launchpad, and others, the project has chosen HotCross for its upcoming IDO launch. According to the team, the program is also testnet ready so should their IDO be successful, a successful test version of the platform could be on the cards
How Pontoon Finance Envisions to bring a change?
Pontoon Finance is a project looking to provide liquidity across multiple chains. As crypto has gotten more popular, the creation of multiple DeFi projects across numerous chains means that liquidity is sometimes poorly distributed, and this can leave you stuck in transactions for far longer than you would have liked. Speeding up these transactions also sometimes means being forced to accept relatively large losses due to slippage to make your transaction go through.
