One. In March, the startup’s CEO announced that the company had raised $3 million in a Series A funding round led by a number of strategic investors. Common Protocols is the company behind the Anyhedge protocol, the first decentralized financial (de)project built on the Bitcoin Cash network.

Unused energy behind the programmable silver concept

General Protocols announced Monday that the startup has closed a Series A funding round, which was funded by a number of investors. News.Bitcoin.com has reported on shared protocols several times, as the startup believes that smart contracts for programmable money are the basis for a multi-million dollar transition to secure, non-cash networks.

In late December, the joint protocols put the Anyhedge protocol and the decentralized exchange Detoken (dex) into production.

As the first public definition protocol built on the Bitcoin Cash (BCH) network, users of smart contracts like Detoken and Anyhedge can hedge or extend their Bitcoin Cash and earn a financial premium while keeping keys in non-cash form.

In Monday’s announcement, BCH’s first unlisted derivatives exchange revealed that it receives about $130,000 per day in total value (TVL) and has about $4 million per day in historical value (THVL).

We are proving that a seamless, decentralized challenge to Bitcoin Cash works and that there is a real demand for this product, the company said in announcing the funding.

General Protocols reports that it has completed its first round of Series A funding, raising $3 million from leaders in the crypto-currency industry, block and shaker manufacturers, and early Bitcoin users. Investors leading the Series A joint minutes of $3 million are Mark de Mesel, Roger Wehr, Christopher Wu, Margus Cocke and Mike Komaransky.

The company pointed out that the investors were pioneers who helped create the Bitcoin ecosystem and now continue to spread electronic money on a peer-to-peer basis, creating the Bitcoin Cash (BCH) ecosystem.

Shared protocols see smart money and decentralized funding as just the beginning

According to BCH-focused startup Defi, it has been a year since it began developing decentralized financial solutions focused solely on exploiting the Bitcoin Cash network. The team’s vision is to combat the volatility that threatens cryptocurrency adoption and benefit from low cost and direct payments through BCH’s distribution chain.

The first form is the Anyhedge, a non-mandatory/long-term log cover – an addition to the announcement of general logs. As speculative liquidity increases, it will become increasingly easier for companies to take advantage of Bitcoin Cash and the stability of the U.S. dollar, gold, oil or other assets they prefer, the team added.

In 2020, the popularity of the Defy block on Ethereum exploded, with an LCT of over $38 billion, according to statistics from market aggregator defipulse.com. However, in the second half of 2020 and in 2021, a number of other blocks, such as Tron, EOS and Bitcoin Cash, will implement Defy projects.

Proponents of crypto blockchains like Ethereum will eventually adapt to ease the pressure. Some proponents believe that other blocking chain solutions will address the network congestion and high costs that currently plague the Ethereum network and its Defi users.

How about $3 million from investors in strategic crypto organizations? Let us know what you think in the comments below.

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Anyhedge, anyhedge protocol, BCH network, bitcoin cash, decentralized finance, DeFi, derivatives, detoken, futures, general protocols, hedge, hedging, non-custodial, open source, oracle, short, technology

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