Interchain, decentralized liquidity booster OpenSwap today announced the successful conclusion of its latest funding round after raising $1.5 million.
OpenSwap Raises $1.5 Million in Latest Funding Round
OpenSwap, the cross-chain DeFi Hub and liquidity booster for traders seeking concentrated and capital-efficient liquidity for trades today announced it had raised $1.5 million in its latest funding round.
Notably, OpenSwap’s latest round was led by prominent VC firms such as NGC Ventures and Coin98 Ventures.
In addition, the round witnessed participation from BP Capital, Legos Capital, Double Peak Group, Prime Block Capital, Illusionist Group, and All In Ventures.
Further, the round also saw contributions from numerous prominent angel investors including StakeDAO CEO Julien Bouteloup, a core member at Curve Finance and the inventor of flash loans; CREAM Finance Founder Leo Cheng; Frontier DeFi Aggregation Layer Founder Ravindra Kumar; and blockchain veteran Mark Borsten.
The funds raised by OpenSwap will be used toward the platform’s ongoing technological developments that include tools and functionalities such as liquidity queues, the platform’s industry-leading pioneer solution for liquidity.
Commenting on the development, Roger Lim, Founder of NGC Ventures, said:
“The OpenSwap team has been constantly innovating with their interchain swaps as well as hybrid smart routing, and we at NGC are thrilled to be part of their journey thus far. With Bruce and Tony at the helm, OpenSwap are in good hands and we’re looking forward to seeing more from them!”
Similar sentiments were echoed by Thanh Le, Founder, Coin98 Finance. Le said:
“We’re excited to back the Openswap team, which has shown their passion and solid ability to grow in this ever-changing DeFi space. Sharing the same vision of a multi-chain future with us, we believe the team will realize their ultimate goal of making liquidity interaction across blockchains the most efficient for users with relentless innovations.”
The latest funding round comes shortly after OpenSwap’s recent partnership with multi-chain incubator, launchpad, and swap platform Impossible Finance.
Notably, the team at Impossible Finance, along with Coin98 have both provided support for a $10,000 worth whitelist allocation campaign that is currently being hosted on OpenSwap ahead of the launch of its highly-anticipated $OSWAP token.
The team at OpenSwap aims to equip users to take informed swap decisions and incur zero slippage costs through an intuitive platform and real-time data.
To know more about OpenSwap, click here.
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