A popular altcoin completed a million-dollar funding round today. It was reported that the funds were collected homogeneously. Here are the details…
Altcoin project raises $22 million
DeFi protocol iZUMi Finance, which offers liquidity as a one-stop service, announced today that it has completed a $22 million funding round. Funds were raised through the issuance of “iZUMi zk-Fund” series products (SFT, semi-homogeneous token). It received support from funds such as Unicode Digital, NextGen Digital Venture, Bella Protocol, Incuba Alpha and individual investors. Funds have been pooled in ETH, StETH, USDC, USDT and other mainstream crypto assets.
— iZUMi Finance | Token2049 🇸🇬 (@izumi_Finance) April 21, 2023
Funds raised in this funding round will be used to support the early liquidity of iZiSwap Pro on the zkSync Era network. iZiSwap Pro is an order book DEX product on the iZUMi Finance chain that adopts iZUMi’s innovative discrete liquidity AMM (DL-AMM) model that is fully on-chain and provides 100 percent decentralization. iZiSwap Pro aims to provide users with a fast and efficient trading experience.
According to iZUMi Finance, the completion of this funding round is an important milestone in the growth and development of the company. The company is committed to providing users with innovative financial products and services that are secure, efficient and decentralized. iZUMi Finance said, “We are excited to announce that we have successfully completed our funding round. The support we receive from our investors confirms our vision and commitment to building a more decentralized financial system. “The funds raised will enable us to continue to invest in the development of our innovative products and services and provide users with access to liquidity on the iZiSwap Pro platform.”
IZI price jumps
As Cryptokoin.com also reported, iZUMi Finance first provides Programmable Liquidity as a Service (LaaS) on Ethereum with Uniswap V3, and then expands its liquidity service to multiple chains with built-in DEX. It will help liquidity providers earn additional liquidity mining rewards alongside transaction fees in Uniswap V3. On the other hand, it will help protocols attract liquidity efficiently and permanently. Izumi improves incentive efficiency with Izumi’s LiquidBox, which allows protocols to distribute incentive rewards at specific price ranges. Meanwhile, liquidity providers can earn more transaction fees with capital efficiency and receive additional incentives provided by the respective protocols.
With the completion of this funding round, iZUMi Finance is well positioned to continue innovating and growing in the DeFi space. The company is committed to providing users with access to innovative financial products and services that are secure, efficient and decentralized. At the time of writing, IZI price is up 37 percent from $0.026 to $0.038.
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