Binance X and Furucombo gave a message of cooperation to develop the DeFi ecosystem. In this context, Binance X announced that it has invested in Furucombo. The Furucombo (COMBO) price has increased by almost 70% in 1 day. What is Furucombo?
Binance X, Binance’s developer-focused subsidiary, announced that it has invested in Furucombo. In the announcement published by Binance, it was emphasized that this investment is a strategic step taken to develop the DeFi ecosystem. Teck Chia, the head of Binance X, underlined that he sees Furucombo as an important project for decentralized finance with his statements.
While no more details were disclosed for the investment, it was hoped that Furucombo could expand its ecosystem to the global market and put product innovations into the stage of mass adoption with the investment received. Hsuan-Ting, CEO of Furucombo, stated that Binance’s investment shows two important things:
“First, it shows that complex DeFi protocols need ‘drag and drop’ tools that can be visualized in cubes. The second highlights how important it is for companies to collaborate to expand and develop the ecosystem while building a strong DeFi infrastructure.
What is Furucombo (COMBO)?
Furucombo is a decentralized project that allows its users to optimize their DeFi strategy by simply “drag and drop”. The project aims to provide convenience for those who want to carry out transactions with different protocols in the DeFi field. Furucombo aims to improve investment, DeFi loan and transaction experiences.
It visualizes complex DeFi protocols in cubes, allowing much faster and simpler operations. Platform users line up input / outputs and visualized cubes called “combo”. Furucombo then gathers and sends all these cubes in a single transaction. The platform runs all transactions in a single smart contract. The project also aims to improve the use of “flash loans” in this way.
The Furucombo platform’s own crypto currency is COMBO. While the maximum supply for COMBO is announced as 100 million for now, the circulating supply of the token is 4.3 million as of February 2, 2021. COMBO Uniswap is listed on MXC.COM and Sushiswap platforms.
70% valued in 1 day
Furucombo price set a record, taking action with the Binance announcement. Having increased by 70% in 1 day, COMBO set its new record at $ 4.16. COMBO, which started its network life on January 12, 2021, dropped to $ 1 right after the launch. The market value for COMBO, which has increased its price more than 270% in the last 20 days, shows $ 17.7 million.