Swaap Wraps Up $4.5 Million Seed Funding and Reveals Forthcoming v2 Introduction

Swaap Labs, the company building Swaap, has secured over $4.5 million in seed funding to develop its next-generation market-making protocol for sustainable yields and reduced trading costs. Swaap’s model aims to offer liquidity providers passive and profitable market-making strategies, addressing the issue of impermanent loss present in DeFi. Swaap v1, launched in July 2022 on Polygon, has already proven sustainable on-chain market-making is possible, recording less than 0.1% impermanent loss in its WBTC/WETH/USDC pool, powered by Chainlink price feeds. Swaap v2 is set to revolutionize DeFi using the most advanced market-making models built by leveraging the AMM simulator developed in collaboration with a leading math research institute, the Louis Bachelier Institute.

Swaap v2 boasts innovative architecture that empowers users with access to diverse token options, including yield-bearing assets, solidifying its place as a frontrunner in DeFi. Its seed funding round was led by Signature Ventures, with participation from high-profile investors including New Form Capital, C² Ventures, Kima Ventures, and renowned business angels like Ledger CEO Pascal Gauthier and The Graph’s Tegan Kline.

Swaap’s co-founder, Cyrille Pastour, said the funding will enable them to accelerate the development and release of Swaap v2, which promises to deliver even more value to LPs and traders in the DeFi ecosystem. Swaap is inviting users to join the waitlist for its upcoming v2 release. 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.

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