Cobo Argus Surpasses $100 Million TVL with V2 Upgrade

Cobo Argus Surpasses $100 Million TVL with V2 Upgrade

Singapore, 5 July 2023 - Cobo, a globally trusted leader in digital asset custody solutions, proudly announces today that the TVL (Total Value Locked) of Cobo Argus, an on-chain digital asset management solution that enables role-based access control and unprecedented parameter-level risk management, has crossed US$100 million since its release.

“We are pleased to share that the Total Value Locked (TVL) in Cobo Argus has reached a significant milestone of US$100 million. This underscores the deep trust and confidence users have in our innovative on-chain digital asset management solution. With the release of Cobo Argus V2, teams can effortlessly explore the world of decentralized finance (DeFi) by delegating tasks, automating processes, and ensuring the security of their investments. We envision that Cobo Argus V2 will significantly democratize institutional access to DeFi, fostering secure on-chain collaboration and driving the growth and adoption of decentralized finance,” said Discus Fish, Co-Founder and CEO of Cobo.

Cobo announced on 21 June 2023 the official launch of the V2 upgrades for Cobo Argus, which brings even more powerful features in DeFi strategies authorisation, team role delegation, and risk management, empowering organisations and teams with seamless DeFi access and unparalleled workflow efficiency.

Cobo Argus V2 is a significant upgrade of its predecessor, V1, which was originally launched in August 2022. Built on Safe (previously Gnosis Safe), Cobo Argus V1 successfully tackled the challenges plaguing the industry, such as rigid permission management and workflow inefficiency. By incorporating flexible team collaboration features and cutting-edge bot technology, Cobo Argus V1 quickly became DeFi teams’ gateway to the world of decentralised finance.

Meticulously crafted by the Cobo team over the past 10 months, Cobo Argus V2 takes DeFi investment to new heights with a complete redesign of the underlying Cobo Safe protocol, ensuring an even more robust and secure platform for DeFi players. Cobo Argus V2 now supports all open-source DeFi protocols and offers a multitude of enhanced features, including improved flexibility in role delegation, simpler transaction authorisation, reduced gas consumption, and more intuitive multi-signature messages. By significantly reducing the barriers to DeFi adoption, Cobo Argus V2 empowers more organisations and teams to confidently participate and interact with DeFi protocols.

"As cryptocurrency market regulations tighten worldwide, the value of DeFi is increasingly recognised by market participants. DeFi teams, however, continue to face obstacles when it comes to investment management and team collaboration," said Discus Fish. “That’s why we are thrilled to introduce Cobo Argus V2, a solution that empowers teams to delegate, automate, and secure their DeFi investments. With its innovative features and robust functionalities, Cobo Argus V2 revolutionises the way teams and organisations access the world of DeFi, opening doors to new opportunities."

Cobo Argus V2 introduces an expanded range of DeFi bots, offering advanced functionalities such as automated harvesting, compounding and token swapping. Users can also customise the trigger conditions of their DeFi bots for a tailored investment experience.

In addition, Cobo Argus V2 will continuously add to the bot functionalities to cater to the evolving needs of users. Exciting upcoming features include auto-withdrawal, auto-deleveraging, and more. The auto-withdraw feature allows users to monitor on-chain data indicators, set alerts and automatically withdraw liquidity when predetermined thresholds are met. This helps users avoid potential financial losses, especially during extreme market conditions. The auto-deleverage function allows users to maintain optimal leverage levels at all times, mitigating liquidation risks and unexpected losses.

"We believe that Cobo Argus V2 has the power to help institutional investors unleash their DeFi potential and pave the way for more participants to enter the world of DeFi." - Discus Fish, Co-Founder & CEO of Cobo

Cobo Argus V2 further streamlines the onboarding process by allowing users to connect their wallet addresses effortlessly and import multiple Safes simultaneously. Additionally, creating and enabling Cobo Safe Modules has never been easier, as all operations can now be completed conveniently within the Cobo Argus V2 platform. This seamless experience aims to drive greater DeFi adoption, unlocking the full potential of DeFi.

For more information about Cobo Argus V2, please visit https://www.cobo.com/web3/argus.

About Cobo
Cobo is a globally trusted leader in digital asset custody solutions. As the world’s first omni-custody platform, Cobo offers the full spectrum of solutions from full custody, and co-managed MPC custody, to fully decentralised custody as well as wallet-as-a-service, advanced DeFi investment tools and an off-exchange settlement network. Trusted by over 500 institutions with billions in assets under custody, Cobo inspires confidence in digital asset ownership by enabling safe and efficient management of digital assets and interactions with Web 3.0. Cobo is SOC2 Type 1 and Type 2-compliance-certified and licensed in 5 jurisdictions.

For more information, please visit www.cobo.com.

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