Ethereum’s based Project Synthetix defi raised $3.8 Million

[Harrydose]

On Monday, Ethereum’s blockchain venture Synthetix, decentralized finance (DeFi) announced that it raised financing of around $3.8 million. Synthetix expressed the Framework Ventures has purchased 5 million Synth (SNX) tokens.

They got it from the Synthetix Foundation’s assets. The estimation of the 1 SNX token nearly $0.76.

Source: TheCoinRepublic

[el kaka22]

Couldn't they just do another round of selling tokens? I mean 3.8 million dollars funding is really not a huge deal in crypto world, if you can sell tokens you can make that much money and considering this Synthetix (never heard of them before) is big enough to raise 3.8 million in funding this way while giving up ownership a bit, they could have done it via token sales a lot more easily as well.

They are the ones who are running it anyway so they probably know a lot more than I do on this subject, I am just a guy on a forum making up my observations as I go whereas they probably have accountants, developers and marketing all working on the same deal at the same time with management looking over them. 3.8 million is still very small by comparison to other companies funding.