Sunday, July 21, 2024

Izumi Finance has announced that company has received 600,000 USD in funding from industry-leading investors

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

Cryptured Team
Cryptured Team
The writers team at Cryptured.com is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.
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