Pascal

Maker

WETH

Chainlink

Partner

Paris, France, April 19th, 2023, ChainwireSwaap Labs, the company building Swaap, has successfully secured over $4.5 million in seed funding. Swaap builds the Next-Generation Market Making Protocol that leverages a combination of oracles and dynamic spread for sustainable yields and reduced trading costs. Its unique approach aims to offer liquidity providers (LPs) passive and profitable market-making strategies, addressing the critical issue of impermanent loss, prevalent in DeFi.Launched in July 2022 on Polygon, Swaap v1 has already proven that profitable market-making on-chain is possible. Its WBTC / WETH / USDC pool, powered by Chainlink price feeds, has recorded less than 0.1% of impermanent loss.Swaap v2 is set to revolutionize the DeFi landscape with its new enhancements and features, further improving v1. It employs the most advanced market-making models in DeFi, built by leveraging the AMM (automated market maker) simulator developed in collaboration with the Louis Bachelier Institute, a leading Math Research Institute.Swaap v2 further boasts innovative architecture that delivers a significant improvement in data latency, elevating the platform's overall performance. Additionally, this new architecture empowers users with access to a diverse range of tokens, including yield-bearing options, further expanding the platform's capabilities and solidifying Swaap v2 as a frontrunner in the DeFi space.The seed funding round was led by Signature Ventures with participation from high-profile investors including New Form Capital, C&sup2; Ventures, Kima Ventures, Pareto Ventures, Entrepreneur First&nbsp;(where Swaap's co-founders met), and renowned business angels like Julien Bouteloup (Stake Capital), Pascal Gauthier&nbsp;(Ledger CEO), Richard Ma (Quantstamp CEO), Tegan Kline (The Graph), Meltem Demirors (Coinshares CSO), Frederic Montagnon (Arianee Co-Founder), and Thibaud Elzi&egrave;re (eFounders CEO).&nbsp;Cyrille Pastour, the co-founder of Swaap Labs, said, "We are thrilled to have the support of our investors as we work to democratize DeFi and create a more efficient environment for Liquidity Providers. This funding will enable us to accelerate the development and release of Swaap v2, which promises to deliver even more value to LPs and traders in the DeFi ecosystem."&ldquo;We are proud to work with the outstanding team at Swaap Labs and to be a part of their journey. We think Swaap&rsquo;s Market Maker protocol is a true game-changer for decentralized finance,&rdquo; said Dr. Georg (Juri) Stricker, Tech Partner at Signature Ventures. &ldquo;Building upon the progressively more scalable public chain infrastructure as well as more transparent and robust oracle infrastructure, Swaap is setting new standards in DEX efficiencies for liquidity providers and traders. By offering more stable yields and sustainable returns, we believe Swaap is an essential building block in the evolution of DeFi towards a financial system.&rdquo;Swaap is inviting users to join the waitlist for its upcoming v2 release. To be among the first to access the new platform and enjoy exclusive benefits, visit swaap.finance/waitlist The waitlist is powered by Zealy (previously Crew3) ensuring a seamless and efficient onboarding experience.About SwaapSwaap is transforming the DeFi landscape with its cutting-edge market-making models, improved performance, and access to a wide variety of token options, including yield-bearing assets. Developed in collaboration with the Louis Bachelier Institute using the innovative AMM (automated market maker) simulator, Swaap delivers an enhanced experience for Liquidity Providers. Dive into a new era of on-chain liquidity provision and experience the future of DeFi with Swaap at swaap.finance.For more information visit:Twitter |&nbsp;Discord&nbsp;| WebsiteContactHead of MarketingDavid CostelloSwaapdavid.costello@swaap.finance

Swaap Closes $4.5M Seed Round and Announces Upcoming v2 Launch

Crypto Daily™

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