April 19, 2023 – Paris, France
Swaap Labs, the company building Swaap, has successfully secured over $4.5 million in seed funding.
Swaap builds the next-generation market-making protocol that leverages a combination of oracles and dynamic spread for sustainable yields and reduced trading costs.
Its unique approach aims to offer LPs (liquidity providers) passive and profitable market-making strategies, addressing the critical issue of impermanent loss, prevalent in DeFi.
Launched in July 2022 on Polygon, Swaap version one has already proven that profitable market-making on-chain is possible.
Its WBTC/WETH/USDC pool, powered by Chainlink price feeds, has recorded less than 0.1% of impermanent loss.
Swaap version two is set to revolutionize the DeFi landscape with its new enhancements and features, further improving version one.
It employs the most advanced market-making models in DeFi, built by leveraging the AMM (automated market maker) simulator developed in collaboration with the Louis Bachelier Institute, a leading math research institute.
Swaap version two further boasts innovative architecture that delivers a significant improvement in data latency, elevating the platform’s overall performance.
Additionally, this new architecture empowers users with access to a diverse range of tokens, including yield-bearing options, further expanding the platform’s capabilities and solidifying Swaap version two as a frontrunner in the DeFi space.
The seed funding round was led by Signature Ventures, with participation from high-profile investors including New Form Capital, C² Ventures, Kima Ventures, Pareto Ventures, Entrepreneur Firstwhere Swaap’s co-founders met nd renowned business angels like Stake Capital’s Julien Bouteloup, CEO of Ledger Pascal Gauthier, CEO of Quantstamp Richard Ma, The Graph’s Tegan Kline, CSO of Coinshares Meltem Demirors, co-founder of Arianee Frederic Montagnon and CEO of eFounders Thibaud Elzière.
Cyrille Pastour, co-founder of Swaap Labs, said,
“We are thrilled 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 enable us to accelerate the development and release of Swaap version two, which promises to deliver even more value to LPs and traders in the DeFi ecosystem.”
Dr. George (Juri) Stricker, tech partner of Signature Ventures, said,
“We are proud to work with the outstanding team at Swaap Labs and to be a part of their journey. We think Swaap’s market maker protocol is a true game-changer for decentralized finance.
“Building upon the progressively more scalable public chain infrastructureas well as more transparent and robust oracle infrastructure Swaap is setting new standards in DEX efficiencies for liquidity providers and traders.
“By offering more stable yields and sustainable returns, we believe Swaap is an essential building block in the evolution of DeFi towards a financial system.”
Swaap is inviting users to join the waitlist for its upcoming version two release.
To be among the first to access the new platform and enjoy exclusive benefits, visit here.
The waitlist is powered by Zealy (previously Crew3), ensuring a seamless and efficient onboarding experience.
Swaap is transforming the DeFi landscape with its cutting-edge market-making models, improved performance and access to a wide variety of token options including yield-bearing assets.
Developed in collaboration with the Louis Bachelier Institute using the innovative AMM (automated market maker) simulator, Swaap delivers an enhanced experience for liquidity providers.
Dive into a new era of on-chain liquidity provision and experience the future of DeFi with Swaap at their website.
For more information, visit the links below.
David Costello, head of marketing at Swaap