Institutional Customers Lock $100 Million on Cobo’s Argus Protocol
Cobo’s Argus protocol, which allows institutional customers to store token holdings and engage in decentralized finance (DeFi) activities, saw its customer funds exceed $100 million within a week of its release. CEO Discus Fish revealed this milestone, highlighting that the Argus version 2 (V2) offers features such as DeFi strategy authorization, team role delegation, and risk management. Built on Safe, a decentralized crypto wallet, Argus V2 supports all open-source DeFi protocols and enables traders to utilize DeFi bots for automatic farming rewards monetization, compounding, and token swapping.
Key Points:
- Crypto custodian Cobo’s Argus protocol has locked over $100 million in institutional customer funds within a week.
- Institutional users, such as banks, asset managers, crypto funds, and mining pools, can safely store token holdings and participate in DeFi activities.
- The release of Argus V2 in late June introduced features like DeFi strategies authorization, team role delegation, and risk management.
- Argus V2 is built on Safe, a decentralized crypto wallet.
- Traders can leverage Argus V2 to utilize DeFi bots for automated farming rewards monetization, compounding, and token swapping.
Hot Take:
The success of Cobo’s Argus protocol in attracting institutional customer funds demonstrates the growing interest and trust in DeFi activities among traditional financial players. By providing a secure and user-friendly platform, Argus V2 enables institutions to tap into the potential of the DeFi ecosystem, unlocking new opportunities for profit generation and asset management. As the DeFi space continues to evolve, the demand for reliable infrastructure like Argus will only increase.
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