Monad-based DeFi project TownSquare raises $16.3M

TownSquare, a DeFi money market project based on Monad (MON), announced via its official X account that it has raised $16.25 million in a pre-Series A funding round. Participants in the round included World Liberty Financial, Ouroscapital, Arcane, OKX Ventures, Animoca Brands, Amber Group, and Aptos. The funds are expected to be used to strengthen its revenue generation structure through USD1 and real-world asset (RWA) tokenization.