iZUMi Finance raised $22 million to launch iZiSwap Pro, a decentralized exchange operating on the zkSync Era network’s order book. iZiSwap Pro is a part of iZUMi Finance, which is a service that provides liquidity all in one place.
Semi-fungible tokens were issued for fundraising
iZUMi Finance, a DeFi protocol, raised $22 million to improve iZiSwap Pro. This is an on-chain order book designed for the zkSync era.
iZUMi provides a platform that makes it easy to exchange digital currencies for fiat currency or other assets. This platform is called liquidity-as-a-service.
iZUMi is worth $25.3 million based on the assets locked in its platform, according to DeFi Llama. The platform uses automated market makers to keep fees low and reduce custody risks on its decentralized exchange called iZiSwap Pro.
iZUMi’s strategic partner, Solv Protocol, helped them establish a new way to raise capital called the iZUMi zk-Fund. This is different from the usual “cash in, equity out” models. The iZUMi zk-Fund uses a semi-fungible token (SFT).
When someone buys the iZUMi zk-Fund, they are given SFTs that represent their share as a limited partner. They can get their initial investment back when it matures.
Unicode Digital, NextGen Digital Venture, Bella Protocol, and Incuba Alpha were among the investors in iZUMi’s latest funding round.
The iZUMi zk-Fund is a semi-fungible token (SFT) based on the ERC-3525 token standard created by Solv. When someone buys the token, they become a limited partner (LP) of the fund. They receive a new SFT in their wallet that represents their investment in the fund.
The SFTs in iZUMi zk-Fund are like NFTs, but they can also be computed like ERC-20 Tokens. Investors can view real-time profit and loss (PnL) and net asset value (NAV) data on a dashboard. When the fund reaches maturity, investors can redeem the principal they invested in the SFTs.
iZuMi Finance past campaign activities
iZUMi Finance received a $30 million investment, which helped them launch their new decentralized exchange (DEX) called iZiSwap on the BNB Chain. They also introduced their new iUSD bond, which is pegged to the dollar and backed by 100% collateral. iZUMi uses the Discretized-Liquidity-AMM model to manage liquidity on their platform.
To launch iZiSwap, iZUMi raised $30 million by selling bond vouchers and iUSD claims. The funding round had a total of $20 million from investors like Ivy Ventures, Cobo, and Mirana.
Within 17 minutes of the launch, iZUMi sold $4 million BUSD worth of bond vouchers, and in less than three hours, another 5,000 BNB (equal to $2 million USD) was purchased. This shows that there was high demand for the product.
Izumi Finance received $2.1 million in funding from various DeFi and cryptocurrency supporters for its liquidity provision system on Uniswap V3.
The izumi protocol focuses on addressing the problem with concentrated liquidity pools on Uniswap V3, by innovating the traditional liquidity mining used in Uniswap V2.
Izumi’s main feature is the ability to provide unique liquidity incentives for subsets of the Uniswap V3 pool’s price points. This allows projects to adjust their reward structures effectively to achieve better results.
