Crypto Startup Swing Secures $6 Million In Strategic Funding Round
Swing, a blockchain startup that enables cross-chain liquidity and liquidity aggregation across blockchains, announced that it has raised $6Million in a strategic funding round from leading investors in the blockchain ecosystem.
Swing leverages layer 1 and layer 2 solutions like Polygon, Binance Smart Chain, Avalanche, Solana, Arbitrum, and more to get past and challenge Ethereum’s performance restrictions.
The strategic round of funding was led by Republic Capital and also saw participation from blockchain-centric VCs including Avalanche Labs, Bitcoin.com, Skynet EGLD Capital, Celer, Ascensive Assets, Haskey, Morningstar Ventures, Kane & Rao among others. With this round of strategic funding, Swing has achieved a valuation of USD 60 Million, making it one of the most sought-after projects in the DeFi space.
Swing aims to Fastrack its plans to launch APIs to aggregate major liquidity sources and bridges with the aim of enabling cross-chain liquidity and progress closer to its vision of decentralized liquidity across the DeFi multi-chain ecosystem. The funding will be utilized to propel Swing’s development and expansion of teams.
By enabling cross-chain transactions, the project aims to bring in a new era of decentralized trading. By offering a cross-chain asset exchange and decentralized liquidity protocol that uses Layer 2 chains and major EVM networks, DeFi traders, investors & developers can use Swing to move crypto capital efficiently across blockchains.
AMM dexes, yield farms, lending/borrowing and staking protocols will greatly benefit from Swing’s cross-chain bridging solution. Swing navigates across top protocols and exchanges on Layer 1 and 2 chains with its cross-chain bridges and intelligent algorithms to beat and match market swap prices.
Swing will be a one-of-a-kind gamechanger to empower developers, investors, and users all over the world to move crypto assets effortlessly using blockchain smart contracts, relayers, and cross-chain bridges.
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