Swaap Labsa Paris-based startup that develops a AMM protocol which natively reduces theImpermanent Loss in the DeFihas just completed a tour de table from 4.5 million dollars.
This Wednesday, Swaap Labsthe company behind Swap Protocolhas announced that it has lifted 4.5 million dollars from Signature Ventures. The financing round also includes the participation of New Form Capital, C² Ventures and Kima Venturesthe fund of Xavier Niel who invested earlier this week in Bitstack.
We are delighted 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 allow 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,” commented Cyrille Pastour, co-founder of Swaap Labs, in a statement.
Following the deal, Swaap Labs is now preparing for the launch of the V2 of its protocol of decentralized finance.
Launched in 2022 on Polygon, Swap Protocol is a Automated Market Maker (AMM) that natively reduces Impermanent Loss in DeFi. Impermanent loss occurs when liquidity is added to a pool and asset prices change.
With Swaap v2the start-up wants to ” revolutionize the DeFi landscape ” with new improvements and features.
Last fall, Swap Protocol announced a partnership with the Louis Bachelier Institute, a French network of quantitative finance researchers, to develop V2 of its product.
For Georg Stricker, a partner at Signature Ventures, the protocol sets “new standards in DEX efficiency” for liquidity providers and traders. “By offering more stable and sustainable returnswe believe Swaap is a critical part of DeFi’s evolution,” he said.
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