Discus Fish, CEO of CoinDesk, said that institutional customer funds locked in Cobo’s Argus Protocol have surpassed $100 million after one week since its release.

The firm allows institutional investors, such as banks and asset managers, crypto funds, mining pools and crypto funds, to securely store tokens and engage in Decentralized Finance activities.

Cobo released Argus Version 2 (V2) at the end of June. This version allows users to access such features as DeFi strategy authorization, role delegation, and risk management. V2 is based on Safe, which is a decentralized cryptocurrency wallet.

Fish stated in a Telegram that “we are happy to share the fact that Cobo Argus’ Total Value Locked has now reached a milestone of US$100,000,000.”

Argus supports all DeFi protocols, and allows traders to use DeFi bots for automatic monetization of farm rewards. This includes compounding and token trading. The term farming is used to describe a method of earning rewards through the depositing of tokens in a decentralized app.

Sheldon Reback is the editor.