NoahArk Tech Group, a Hong Kong-based company which operates in the decentralized finance (DeFi) sector, received a $2.4M investment from EOS Network.
Noahark.io is a DeFi project on the EOS EVM chain, focusing on providing highly secure and reliable decentralized trading services. Through innovative lock-up mechanisms and liquidity solutions, it creates a seamless financial market experience for users. It is expected to launch a series of trading-focused products such as perpetual contracts and perpetual options early next year.NoahArk Tech Group is the result of a collaboration initiated by Defibox Technology Limited (Defibox.io) and Hong Kong Noah Technology Limited (Noahark.io). Their shared mission is to build a DeFi (Decentralized Finance) alliance within the EOS ecosystem, primarily focusing on decentralized exchange (DEX) activities. The group’s strategy includes leveraging the strengths of both Defibox.io, a prominent DeFi platform on EOS Native, and Noahark.io, a rising DeFi project on EOS EVM, to drive a broad spectrum of efforts in the DeFi sector.Commenting on the news, NoahArk Tech Group CEO, Eason, said: “This investment from EOS Network Ventures, coupled with the reorganization of Defibox.io and Noahark.io, marks a transformative phase for the EOS DeFi ecosystem. In this new phase, the EOS EVM will significantly enhance our operational capabilities, making it easier for established products and developers to participate and enabling the fluid movement of various assets through cross-chain bridges. The main challenge in this transition is fostering a sense of trust and familiarity among both EVM product users and EOS enthusiasts. Our reorganization of the dual projects is a strategic move specifically designed to address this need for trust and integration. This represents a win-win cooperation.”11/01/2024
