In order to manage DeFi investments across multiple blockchains, Quasar Finance, a decentralized asset management protocol based on the Cosmos blockchain ecosystem, launched its mainnet with the goal of helping investors manage their digital assets across multiple blockchains.

Earlier this year, Quasar raised $5.4 million from Shima Capital at a valuation of $70 million, bringing the total raised to over $11.5 million, the protocol said in a press release.

Through Inter-Blockchain Communication Protocol (IBC), Quasar is aiming to become the leading decentralized asset management platform. According to a press release, Quasar’s goal is to enable investors to easily access the emerging interchain landscape of numerous individual blockchains within the Cosmos ecosystem and beyond by leveraging IBC-enabled smart contracts.

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Investors can now manage their digital assets across multiple blockchains with Quasar Finance, a decentralized asset management protocol built on the Cosmos blockchain ecosystem.

Earlier this year, Quasar raised $5.4 million in a funding round led by Shima Capital at a valuation of $70 million, bringing the total funds raised to over $11.5 million.

Through the Inter-Blockchain Communication Protocol (IBC), Quasar hopes to become the leading decentralized asset management platform. In a press release, Quasar said it would provide investors with easy access to the interchain landscape of numerous blockchains within the Cosmos ecosystem as well as beyond using IBC-enabled smart contracts.

Since centralized exchanges like FTX have failed spectacularly, both crypto natives and investors have turned their attention to decentralized finance (DeFi) and security. According to the press release, Quasar is developing a layer 1 protocol that will make it possible for investors to deposit funds into permissionless, non-custodial investment vehicles, called “vaults,” that are optimized for use on multiple blockchains.

It also eliminates cross-chain bridges, which have proven to be risky for DeFi investors, resulting in over $2 billion in losses in 2022.

Quasar hopes to give investors greater control over their investments by providing access to the developing interchain landscape of independent and interoperable blockchains within and outside of the Cosmos ecosystem.

A statement from Valentin Pletnev, lead and co-founder of Quasar Finance, said the mainnet launch is expected to attract more liquidity providers and strategists looking to crowdsource interchain capital.