In a remarkable feat, crypto custodian Cobo’s Argus protocol has achieved an impressive milestone of over $100 million in locked value within a mere week since its launch. CEO Discus Fish shared this achievement with CoinDesk, highlighting the platform’s swift adoption by institutional customers.
Cobo’s Argus protocol offers a secure storage solution and facilitates decentralized finance (DeFi) activities for institutional users, including banks, asset managers, crypto funds, and mining pools. By leveraging the platform, these entities can confidently manage their token holdings while engaging in DeFi strategies.
The latest version, Argus V2, was unveiled by Cobo in late June, introducing a host of new features to enhance user experience. Among the notable additions are DeFi strategies authorization, team role delegation, and risk management. This version is built upon Safe, a decentralized crypto wallet, ensuring robust security measures.
Discus Fish expressed his delight in a Telegram message, stating, “We are pleased to share that the Total Value Locked (TVL) in Cobo Argus has reached a significant milestone of US$100 million.” The achievement underscores the trust placed by institutional users in the platform’s capabilities.
One of the key advantages of Argus V2 lies in its compatibility with all open-source DeFi protocols, providing traders with a wide array of options. Furthermore, the platform enables users to leverage DeFi bots for automated farming rewards monetization, compounding, and token swapping. “Farming,” a term commonly used to describe the process of earning rewards by depositing tokens into decentralized applications (dapps), becomes more accessible and efficient through Cobo’s offering.
The rapid growth in value locked on the Cobo Argus platform signifies the increasing demand for secure and efficient custodial services in the crypto space. As institutional players recognize the potential of decentralized finance, Cobo stands at the forefront, providing a trusted solution that bridges traditional finance and the world of cryptocurrencies.
With Cobo Argus facilitating seamless token storage and empowering institutional users to harness the full potential of DeFi, the crypto industry witnesses yet another significant step toward mainstream adoption. As the platform continues to innovate and evolve, the future of institutional-grade crypto custodianship appears increasingly promising.
