Quasar Finance Raises $6,069,420 to Help Bring Mass Adoption to DeFi on Cosmos

The Quasar team is excited to announce the successful raise of $6M in seed round funding to create a vault-based asset management appchain for the Cosmos ecosystem and the broader Inter-Blockchain Communication (IBC) protocol.

The round was co-led by well known and respected investors Polychain Capital and Blockchain Capital as well as including several of the top builders and investors in and around the Cosmos Ecosystem like Figment, Lightshift Capital, Galileo, Binary, HashCIB, Sunny Aggarwal of Osmosis and Evra, the founding team behind Evmos. Along with the raise we have been able to put together an incredibly strong lineup of advisors: Jack Zampolin of Strangelove Ventures, Marko Baricevic at the Interchain Foundation, Richard Malone at Obol Network and Marin Law.

Ben Perszyk, Polychain: “Quasar abstracts away some of the complexity involved in earning lending yield, providing liquidity to AMM pools, or structuring delta-neutral strategies, and hides those capabilities behind an approachable, user-friendly frontend. By deploying their own application-specific IBC chain, Quasar then offers a powerful new suite of DeFi tools for end users, and positions themselves as a liquidity hub for the ever-expanding Cosmos DeFi ecosystem.”

Aleks Larsen, Blockchain Capital: “Valentin is an exceptionally talented founder and we’re thrilled to back him as they build the easiest way to earn yield on any IBC-enabled blockchain.”

Sunny Aggarwal, Osmosis: “Quasar captures a big opportunity and allows for a completely new way to engage with Osmosis and enable passive investors to use smart strategies. Along with building a great value-add product, the team has also been major contributors to ecosystem public goods like new IBC developments.”

Richard Malone, Obol: “Quasar is building much-needed liquidity infrastructure and investment products for the burgeoning IBC-connected ecosystem. I firmly believe that Valentin and the team are providing the constructs necessary for Cosmos to achieve scale and mass adoption, and ultimately fulfil its promise of creating a multi-chain future.”

Simao Cruz, Lightshift Capital: “Valentin and the team at Quasar are leveraging cutting edge technology in blockchain to create one central place for asset management. Quasar will solve the liquidity issue on chain, allowing anyone to create new funds, improved strategies or to tap into opportunities regardless of where that liquidity is held.”

Powering DeFi on Cosmos

The Cosmos Ecosystem has a lack of capital efficiency and volume due to its clustering and fragmented nature — this creates an area of opportunity.

DeFi on Cosmos is the least restrictive platform for investors to deploy funds due to IBC technology and its open architecture. Users will benefit from an asset management appchain that is able to scale without the restrictions imposed by its base blockchain layer, like many dApps deployed on other Layer 1 platforms are.

Quasar is an application-specific capital management blockchain in the Cosmos ecosystem that runs self-governed vault-based investment strategies powered by expert and community driven strategies. Quasar is the gateway to multi-chain DeFi investment opportunities offering sustainable, sovereign and ergonomic investment vehicles for investors, while offering powerful tools and infrastructure to create unique vault-based investment strategies for expert users to fundraise on an open marketplace and earn revenue based on their vault management.

Quasar’s vision is to enable open access to collaborative financial instruments for digital assets without borders between blockchains. This creates an opportunity for Quasar to establish itself as:

1. User-friendly: Quasar’s intuitive UI along with real-time performance tracking give users simple methods for gaining exposure to the Cosmos ecosystem.
2. Secure: Quasar vaults are built using Rust based smart contract library Cosmwasm that has a strong security element baked into the language design. Cosmwasm disallows hacks through reentrancy to be implemented, a common vulnerability in solidity based smart contracts that is solved using Rust.
3. Low-Risk: Quasar offers loss protection with the ability to insure against loss of vault funds (even in the case of a malicious attack). The Q-Treasury (a protocol-level vault governed by the community) will have a reserve set aside to remedy losses for compliant vaults that share their profits with the Q-Treasury.
4. Non-Custodial: Quasar never takes custody of user’s funds and users are able to withdraw funds to their wallet at any time. Users can give permission to vault strategists to transfer their funds to be used in trading strategies, but users will still always be able to withdraw funds from the strategy/vault.
5. Diversified: The Q-Treasury offers an index over all vaults in the ecosystem that would provide a diversified portfolio with exposure to a variety of investment strategies across IBC — DeFi. Even specific vaults can manage assets in a way that diversifies exposure to multiple applications and ecosystems.

As the Cosmos ecosystem continues to grow, and the IBC continues to capture the network effects of interoperability, Quasar is uniquely positioned to help grow DeFi within the IBC by consolidating liquidity, lowering barriers to entry for DeFi investing, and creating infrastructure to allow experienced investors to participate in collaborative financial systems, investing alongside users. Future expansions into Polkadot, Near and other chains are possible.

About Quasar

Quasar is the home of next-generation DeFi investment opportunities, powered by expert and community driven strategies. Quasar is democratizing DeFi by making it fair, simple and transparent. By lowering the barriers to entry of vault management, Quasar allows investors to easily participate in DeFi without having to manage the underlying strategies themselves and strategists to earn profit based on their performance. Expert driven strategies — For the many, not the few.

Socials:
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