Genius Yield raised $118 million through ISPO in the first 48 | DeFI News & Alerts

Genius Yield raised $118 million through ISPO in the first 48 hours

On December 15, Genius Yield (GENS), a decentralized automated market maker and liquidity management protocol based on the Cardano blockchain (ADA), announced the launch of its initial share pool offering, or ISPO.

One of the four GENS pools was almost completely filled in just two days.

The fundraising will continue for six months until June 15, 2022. At the time of publication, more than 95.8 million ADAs, worth about $118 million at the time of writing, have been delegated to betting pools.

These funds will be used in part to create a solution that will allow users to use advanced algorithmic trading strategies and yield optimization on the Genius Yield platform.