be using the funds to build an exchange to trade bankruptcy claims. Instead, they plan to use the funds to support Rook and other DeFi projects.
Rook is a decentralized liquidity protocol that allows users to trade tokens without relying on centralized exchanges. It was launched in 2020 and has since gained a following among DeFi enthusiasts.
The news of the fundraising deal has sparked renewed interest in Rook, with many investors seeing it as a sign of confidence in the project. Some analysts predict that the ROOK token could continue to rise in value as more investors flock to the platform.
However, there are also concerns about the involvement of Three Arrows Capital in the project. The hedge fund filed for bankruptcy last year, leaving many investors with significant losses. Some worry that the same fate could befall Rook if the fund’s founders are unable to turn things around.
Despite these concerns, many investors remain bullish on Rook and the wider DeFi market. With the cryptocurrency market showing signs of recovery after a prolonged slump, many see DeFi as a promising area for investment in the coming months.
