Millions for DeFi – Swaap Labs, parisian society, has just announced a fundraising of 4.5 million dollars in seed tower for its protocol Swap thus taking the position of new generation market making on the DeFi. The release of Swaap V2 is eagerly awaited, promising significant improvements and innovative features to bolster the capabilities of the platform.
Swaap V2: on the way to DeFi
Let’s take our case to the root. As a reminder, the market making is the process of creating liquidity in financial markets by making offers to buy and sell an asset. Swaap uses a market making protocol allowing beneficial passive income and transparent oracles to deliver stable returns and lower trading costs to its users.
In fact, Swaap v1 has already proven that market making on the blockchain can be profitable, like its pool of WBTC / WETH / USDC liquidity, fed by Chainlink price flows. Launched on Polygon 10 months ago, this pool has experienced less than 0.1% impermanent losses (impermanent loss) offering a secure framework to its users.
In doing so, the primary mission of Swaap Labs is to create a serene environment to allow a democratization of DeFi as developed by its CEO Cyril Pastour :
“We are delighted with the support of our investors which allows us to democratize DeFi and create a more efficient environment for liquidity providers. This funding will help us accelerate the development and launch of Swaap V2, promising to bring even more value to LPs and DeFi traders.»
In this dynamic, Swap V2 intends to perfect V1 by exploiting the most advanced martket making models of DeFi and developed thanks to an AMM (automated market maker) simulator, a trading algorithm that uses pools of liquidity rather than order books to set asset prices. This AMM is developed in collaboration with the Louis Bachelier Institute, a renowned research institute in economics and finance.
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Swaap V2 improvements for better performance
In details, Swap V2 will therefore have:
- of a innovative architecture ;
- of improved data latency ;
- of one optimized overall performance on the platform;
- of access to a wide range of cryptocurrencies.
These various improved features will thus strengthen the trading capacities of the platform, and will raise Swaap to the rank of essential DeFi protocol. This progress is welcomed by investors, as evidenced by this statement from Signature Ventures CEO Dr. Georg (Juri) Stricker:
“We are proud to work with the exceptional team at Swaap Labs and be part of their journey. We believe that Swaap’s market making protocol is a true catalyst for decentralized finance (…) By leveraging the increasingly scalable infrastructure of public blockchains, as well as more transparent and robust oracles, Swaap is setting new standards for DEX efficiency when it comes to liquidity providers and traders. By offering more stable and sustainable returns, we are convinced that Swaap is an essential brick in the evolution of DeFi towards a financial system.”
The most impatient can already join the waiting list for the launch of Swaap V2 and be able to test the protocol. The first to access the platform will have exclusive advantages.
In short, Swaap is a thriving company, which intends to revolutionize the DeFi landscape with the launch of its V2. The $4.5 million seed funding, led by Signature Ventures and supported by a wide range of investors such as Julien Bouteloup or Pascal Gauthier, will allow Swaap to accelerate the development of its platform and strengthen its positioning as a promising protocol on DeFi.
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