Omega Emerges from Stealth with $6M Funding for Bitcoin-Based DeFi Infrastructure
Quick take:
- Omega will use the funds to build a bridgeless solution for cross-chain communications.
- The company is looking to make it easier for developers to launch decentralised apps on Bitcoin.
- Bankless VC, Blockchain.com, XBT Group, Humla Ventures, and Kronos Research also joined the round.
Decentralised infrastructure platform Omega has emerged from stealth with a $6 million fundraising backed by Lightspeed Faction, Borderless Capital, Blockchain Founders Fund, Bankless VC, Blockchain.com, XBT Group, Humla Ventures, Kronos Research, Psalion VC, and Wave Digital, among others.
Omega is building a decentralised finance infrastructure platform that allows developers to launch decentralised apps without using cross-chain bridges.
The company commented on the fundraising via a thread shared on Omega’s official X account: “Omega strives to create decentralised infrastructure that will redefine omnichain & Bitcoin DeFi. Soon idle assets, like Bitcoin, will be finally unlocked to be utilized across DeFi DApps without the need to interact with bridges, wrappers or L2’s, in a decentralized & composable manner.”
Omega also boasts backing from popular angel investors including SpiritDAO, GMoney, Shiliang Tang, Jason Yanowitz, Mooncat, Popcorn Kirby, and RektMando, among others.
The company has teamed up with cross-chain interoperability protocol LayerZero, USDC issuer Circle, self-custody wallet provider Bitget, decentralised finance solutions provider Injective, and cross-chain messaging platform Wormhole to bring its bridgeless DeFi infrastructure to life.
Commenting on its portfolio of partners, Omega wrote: “We are proud to have the opportunity to work with cutting-edge partners as we solve for scalability, security & liquidity fragmentation throughout the industry.”
Scalability and interoperability have been some of the biggest challenges facing Web3 builders, with some projects built for specific networks.
However, Omega believes its platform could help redefine the industry including “utility for native layer-1 Bitcoin and other digital assets.”
“We do not believe the future will be limited by one single network or centralized security risks of Bitcoin L2’s,” the company wrote.
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