In line with its ambition to build the next generation of DeFi, top crypto project Chaos Labs has completed a $55 million investment round. Confirming the financial breakthrough in its Twitter post, Chaos Labs said the round was led by Haun Venutures. Other participants, according to the tweet, include Wintermute, The Spartan Group, PayPal, Galaxy, and many more.
At its core, Chaos Labs aims to facilitate trust and transparency in the financial market. It believes DeFi can only attain its full potential when there are resilient technologies that can withstand any volatile market conditions.
According to Chaos, for DeFi to defeat CeFi, parameter updates must not remain a manual process. Additionally, the top crypto protocol believes in two major narratives. First, offchain market context remains significant to onchain risk. Secondly, all applications require real-time, contextualized data to fully maximize their potential.
Chaos Labs aiming to empower dApps with contextualized data
With its latest funding round, Chaos Labs aims to address these challenges by empowering dApps with contextualized data. This, according to the firm, will go a long way in improving risk management, economic effectiveness, and capital efficiency. Chaos Labs also emphasized its plan to work with its partners so as to build a risk management that is real-time, responsive, and secure.
Over the past year, Chaos Labs has grown into becoming one of the most popular DeFi platforms. Its customer base tripled, with not less than 15 protocols relying on its solution to effectively scale their products. Some of the institutions relying on Chaos include GMX, Aave, and even Jupiter. Similarly, the firm boasts over $860 billion in cumulative trading volume, $25 billion in loans, and $35 million in incentives.
Meanwhile, Diogo Monica, General Partner at Haun Ventures shared insights into the funding round. Diogo described Chaos Labs as an industry leader in the bustling DeFi landscape. Despite the volatile market conditions, the exec says Chaos has been able to solidify its presence, positioning itself as a strong contender in the DeFi world.
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