Izumi declared that it has closed its 1st round of fundraising activity successfully. Incidentally, it is the maiden Uniswap Version 3 liquidity mining protocol featuring an interoperable multi-chain liquidity service.
Several prominent venture capital firms contributed to this investment exercise. These include Adaptive Lab, ICG, Nothing Research, WolfEdge, Puzzle Ventures, LucidBlue Ventures, Tess Ventures, Everest Ventures Group, and Youbi Capital.
Top characteristics of Izumi Finance
On May 5, 2021, Uniswap launched its v3 upgrade. Just after a fortnight, it surpassed the trading volume of v2, which was 2.3 billion USD. The market has an increasing demand for capital-efficient decentralized exchanges. It led to Uniswap V3 being the existing leading DEX in the Defi space.
At the same time, the team of Izumi finance refined the existing Uniswap V3 by offering the liquidity mining of the NFT LP tokens (Uniswap V3). The team also enables the users of multi-chain to use Uniswap V3.
The task was achieved through two major features:
· The first feature is the multi-chain interoperability. It means that multi-chain users can use Uniswap V3. For instance, with EVM (Ethereum Virtual Machine), Polygon, ad Izumi, users of compatible blockchain can opt for a concentrated range order. They can then enjoy capital efficiency.
· The second feature is NFT Mining v3 is an innovative idea the Izumi team proposed. IT offers non-homogeneous LM incentives in various price ranges for the Liquidity Provider tokens of Uniswap V3. The activity enables users to earn trading fees and incentive tokens for the fresh protocols.
For example, with Izumi, Polygon, and other Ethereum Virtual Machine (EVM)-compatible blockchain, users can easily place a concentrated range order and enjoy capital efficiency