A $22 million fundraising round for the multichain decentralized finance protocol iZUMi Finance has been completed. The funds will serve as the first liquidity for the startup’s zkSync Era-compatible on-chain order book decentralized exchange, iZiSwap Pro. Unicode Digital, NextGen Digital Venture, Bella Protocol, and Incuba Alpha were among the investors in the round.
iZUMi Finance, a DeFi Protocol, Raises $22 Million in Fundraising Round
One-step “liquidity-as-a-service,” or the exchange of one asset for another asset or cash, is available through iZUMi Finance. Defi Llama data shows that the platform has a total value locked of around $25 million.
What is iZiSwap Pro?
The product is an automated market maker-driven order book decentralized exchange. The company claims that the more recent iZiSwap Pro solution lowers transaction costs and mitigates the custodial risks of competing products on the market.
About Fundraising Round
Through its strategic partner, Solv Protocol, the company released an iZUMi zk-Fund, a semi-fungible token, or SFT. A limited partner of the fund is created when an investor buys the fund and receives an SFT in their wallet to represent their portion. Investors may redeem the SFT for their principal at maturity.
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