iZUMi Finance is a one-stop Liquidity-as-a-Service (LaaS) DeFi protocol. The funds will support the early liquidity of its on-chain Order Book decentralized exchange product, iZiSwap Pro. iZiSwap Pro DEX is built on on zkSync Era network.

iZUMi Finance has successfully completed a $22M funding round to support the early liquidity of its on-chain Order Book decentralized exchange (DEX) product, iZiSwap Pro on the zkSync Era network.

Several heavyweights including Unicode Digital, NextGen Digital Venture, Bella Protocol, Incuba Alpha, and other individual investors participated in the funding round, which is the largest funding round in the history of the zkSync Era ecosystem.

In one way or another, the success of the just concluded financing can be attributed to iZUMi Finance’s strategic partnership with Solv Protocol.

Through the partnership, iZUMi was able to adopt an innovative fundraising approach where it issued issued “iZUMi zk-Fund” via Solv V3, the latest paradigm protocol of Solv Protocol.

The “iZUMi zk-Fund” is a type of digital asset known as a Semi-fungible Token (SFT), based on Solv’s original ERC-3525 token standard. When investors purchase the fund, they receive an SFT in their wallet, representing their share making them Limited Partners (LPs).

The SFTs have a cover image, like NFTs, and are computable like ERC-20 Tokens. Investors can track real-time Profit and Loss (PnL) and Net Asset Value (NAV) in a fully visualized dashboard. Upon maturity, LPs can redeem their SFTs to claim their principal.

The iZiSwap Pro DEX is one of the renowned products of iZUMi Finance. It is an AMM-driven Order Book DEX that adopts iZUMi’s innovative Discretized Liquidity AMM (DL-AMM) model.

The DEX has Peer-to-pool and AMM designs, which greatly reduce the transaction cost for the on-chain order book. It also offers zero slippage which in a way prevent MEV attack with decentralized limit orders.

With the funding obtained from the just concluded funding round, iZUMi Finance will now launch the iZiSwap Pro DEX on zkSync Era, which is a zero-knowledge-based Ethereum Layer 2 solution. The funds will support the early liquidity of iZiSwap Pro on zkSync Era.

The post iZUMi Finance closes $22M funding round for its iZiSwap Pro DEX on zkSync Era appeared first on CoinJournal.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

250 +