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Cobo's Argus protocol, a crypto custodian platform, witnessed an impressive surge as institutional customer funds locked exceeded $100 million within a mere week of its launch, according to CEO Discus Fish in a statement to CoinCryptoUs.
The company provides a secure platform for institutional users, including banks, asset managers, crypto funds, and mining pools, to store their token assets and actively participate in decentralized finance (DeFi) activities.
In late June, Cobo introduced the highly anticipated Argus version 2 (V2), offering users an array of advanced features including DeFi strategies authorization, team role delegation, and robust risk management. V2 is built on the foundation of Safe, a decentralized cryptocurrency wallet, enhancing the overall security and functionality of the platform.
“We are pleased to share that the Total Value Locked (TVL) in Cobo Argus has reached a significant milestone of US$100 million,” Fish said in a Telegram message.
Argus V2 is equipped to seamlessly integrate with a wide range of open-source DeFi protocols, providing traders with the ability to leverage DeFi bots for automatic monetization of farming rewards, compounding, and token swapping. Farming, a colloquial term for the process of depositing tokens into decentralized applications (dapps) to earn rewards, becomes even more accessible and efficient with the support of Argus V2.
