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On Oct. 7, Izumi Finance announced that it had concluded the first round of fundraising that saw its net over $600,000 from several reputable industrial investors or what is commonly known as venture capitals.
Some of the venture capitals that participated in the fundraising include the Tess Ventures, Puzzle Ventures, Everest Ventures Group, LucidBlue Ventures, Youbi Capital, Nothing Research, WolfEdge, Adaptive Lab, and ICG among others.
Following the fundraising, Everest Venture Group co-founder Jerome Wong said:
“I’m thrilled to partner with Izumi team to create an impact in the Defi space. We are bullish on Uniswap V3 with raising capital efficiency, Izumi team builds on top of this to offer cross-chain liquidity management and impermanent loss compensation. This is game-changing.”
The funding is a big boost to the liquidity mining protocol as it roots for a stake in offering concentrated liquidity mining on Uniswap V3 through some novel v3 tools.
About Izumi
It is no doubt that Uniswap v3 is the current leading decentralized exchange (DEX) within the DeFi space because of its more capital efficient and that is what the majority of DeFi participants are looking for.
Izumi Finance chooses to build on the capabilities of Unisawp v3 by offering cross-chain liquidity management and impermanent loss compensation mechanism that allows users to mine Uniswap V3 NFT LP tokens and enable multi-chain users to use Uniswap V3.
In a nutshell, Izumi Finance offers non-homogenous liquidity mining protocols that will provide Uniswap v3 LP token-staking rewards. The staking rewards will be in different price ranges and they shall go a long way in enhancing the earnings of Uniswap v3 liquidity providers.
Izumi links multi-chains with Uniswap v3 through a C-AMM bridge to increase the number of users who can access the concentrated liquidity DEX services.
The post Izumi Finance announces it secured $600K from reputable industrial investors appeared first on Invezz.
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