Umoja Raises $4M to Democratize Wealth Creation

Umoja a protocol focused on intelligent money management has secured a $2m extension to its initial seed investment totaling $4m.

The protocol for smart money Umoja has successfully secured a $2 million extension to its initial seed investment round, increasing the total amount of funds raised to $4 million.

Umoja intends to use the funds to make its intelligent money protocol more accessible to the general public. This protocol provides automated investing techniques that enable tokens to self-trade, hedge against market volatility, and maximize yield.

Umoja Launches Synths: Merging Traditional and DeFi

According to a press release on March 19, users can create financial instruments, such as delta-neutral stablecoins that are comparable to Ethena’s USD synthetic dollarnand hedged assets such as zero-downside Ether contracts, by accessing tokenized strategies, also known as “Synths,” within the Umoja decentralized application.

Robby Greenfield, the CEO of Umoja and a former head of social impact at Consensys, believes that creating Umoja marked the critical convergence of traditional and decentralized finance. Greenfield held a previous position at Consensys.

“Bitcoin opened the door to accessible money; Umoja is now paving the way for accessible wealth creation by making asset management as simple as holding the asset itself.”

Concerning the seed round, Greenfield stated that renowned cryptocurrency companies such as Coinbase, 500 Global, Quantstamp, the Blockchain Founders Fund, Orange DAO, Hyperithm, Psalion and the Blizzard Fund by Avalanche were among those who provided financial support.

An issue known as the “ROI Paywall” is one in which more than eight billion people cannot access instruments that can help them create wealth. Umoja intends to address this problem by utilizing the recently collected funds.

Umoja declares that institutions frequently marginalize retail investors, denying them access to data-backed, digital investing strategies, despite their market share of over $7.2 trillion.

Specifically, the company stated that the intelligent money protocol is designed to assist individual investors in capitalizing on the bullish upward momentum of Bitcoin.

During a period of rising investor interest in Bitcoin, the announcement that the funding round had been closed was made thirty-one days before the much-anticipated halving event that Bitcoin was scheduled to undergo.

On March 11, Bitcoin broke through the $71,000 barrier for the first time. This occurred three days after Ether broke through the $4,000 barrier for the first time since December 2021.

Analysts anticipate a probable pre-halving correction, based on historical chart patterns, that would be comparable to the 20% pre-halving correction that occurred in 2020 and the 38% retracement that happened before the halving that occurred in 2016, as stated by a pseudonymous analyst from Rekt Capital.

This could happen despite the intense price action that Bitcoin has been experiencing. Grayscale filed to register a new “mini” version of its Grayscale Bitcoin Trust exchange-traded fund on March 11, the same day that Bitcoin achieved a new record high. This was done to bolster investor interest in the cryptocurrency.