DeFi

Meta

A $4.5 million fundraising round sponsored by <a href="https://www.hashed.com/" target="_blank" rel="noopener noreferrer nofollow">Hashed</a> and <a href="https://www.gumi-cryptos.com/" target="_blank" rel="noopener noreferrer nofollow">Gumi Cryptos</a> has been concluded by <a href="https://blackwing.fi/" target="_blank" rel="noopener noreferrer nofollow">Blackwing</a>. The funding will go toward creating the first modular layer 2 blockchain, which will enable liquidation-free&nbsp;leveraged trading of any asset. Users may trade with borrowed funds&nbsp;on the blockchain without having to worry about forced liquidations thanks to a novel technique known as <a href="https://docs.blackwing.fi/introduction/overview" target="_blank" rel="noopener noreferrer nofollow">Limitless Pools</a>. Blackwing, which is built on the foundation provided by <a href="https://twitter.com/initiaFDN" target="_blank" rel="noopener noreferrer nofollow">Initia</a> and pushes the boundaries of modular chain architecture, maintains decentralization while facilitating easy trade across any modular app chain. Traders may trade assets from any modular app chain without moving funds&nbsp;across networks after they have placed funds on Blackwing, offering substantial cost savings and extra security. With years of expertise from <a href="https://about.meta.com/" target="_blank" rel="noopener noreferrer nofollow">Meta</a> and <a href="https://robinhood.com/us/en/" target="_blank" rel="noopener noreferrer nofollow">Robinhood</a>, both founders <a href="https://twitter.com/shahmeernavid_" target="_blank" rel="noopener noreferrer nofollow">Shahmeer Navid</a> and <a href="https://twitter.com/0xZoZoZo" target="_blank" rel="noopener noreferrer nofollow">Zorayr Khalapyan</a> demonstrate the team’s capacity to take on such a significant project and push the limits of the modular blockchain ecosystem. Blackwing’s lead investor, Baek Kim, partner at Hashed VC, states:
<blockquote class="wp-block-quote">
 “Giving traders the ability to trade any asset from any chain with leverage without the fear of liquidation is a major step forward in DeFi and is a significant improvement in product experience, security, and costs for traders.”
</blockquote>
Blackwing’s <a href="https://docs.blackwing.fi/introduction/overview" target="_blank" rel="noopener noreferrer nofollow">Limitless Pools</a> provide a unique approach to leverage trading without liquidation. The platform&nbsp;makes sure that the initial position used for trading on borrowed funds&nbsp;may be rebuilt, regardless of variations in asset prices, by turning holdings held by liquidity providers into collateral. This new structure benefits traders by offering safer leverage, while liquidity providers gain by earning&nbsp;higher fees. Miko Matsumura, managing partner at gumi Cryptos Capital, said:
<blockquote class="wp-block-quote">
 “This is a profoundly exciting new mechanism. This team has created a breakthrough model that is ultimately trader-friendly.”
</blockquote>
A more decentralized ecosystem&nbsp;of app chains is replacing the conventional monolithic chains on the platform, as seen by its modular architecture. By reducing complexity and increasing efficiency, this paradigm enables cross-chain asset trading without the need for additional wallets or bridges. Co-founder, Shahmeer, states:
<blockquote class="wp-block-quote">
 “Across the web3 ecosystem, we’re on a precipice of change with the introduction of modular chains. Instead of single, large monolithic chains dominating the ecosystem, we will see a Cambrian explosion of highly-specialized and scalable interwoven app chains that all work together to onboard the next generation of traders.”
</blockquote>
Furthermore, Blackwing presents an <a href="https://docs.blackwing.fi/core_concepts/intent_solver" target="_blank" rel="noopener noreferrer nofollow">intent-solver architecture</a> that prioritizes achieving traders’ objectives while abstracting execution complexity. By making trading easier, this strategy hopes to free up customers’ time to focus on their investing goals.

New Modular Blockchain Blackwing Secures $4.5M Funding to Unleash Liquidation-Free Trading

TheNewsCrypto

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