DeFi
iZUMi Finance, a multichain decentralized finance (DeFi) protocol, has closed a $22 million funding spherical. The cash will present early liquidity for the startup’s on-chain order ebook decentralized change, iZiSwap Professional, which is accessible on the zkSync Period community.
iZUMi Finance presents one-step liquidity-as-a-service, or the conversion of 1 asset into one other asset or money. The platform has about $25.3 million in whole worth locked, in keeping with DeFi Llama information. The newer iZiSwap Professional product is an automatic market maker (AMM)-driven order ebook decentralized change that the corporate says reduces transaction prices and mitigates the custody dangers of comparable merchandise available on the market.
The fundraise was extra sophisticated than a typical “money in, fairness out” association. The corporate issued an iZUMi zk-Fund by way of strategic companion Solv Protocol that could be a semi-fungible token (SFT). Buyers who buy the fund obtain an SFT of their pockets to symbolize their share, making them a restricted companion of the fund. Upon maturity, buyers can redeem the SFT for his or her principal.
Buyers within the spherical included Unicode Digital, NextGen Digital Enterprise, Bella Protocol and Incuba Alpha, amongst others.
Learn extra: DeFi Protocol iZUMi Finance Raises $30M, Launches Trade
