April 18, 2022 – Hong Kong, Hong Kong
Wombat Exchange gained the support of Shima Capital as the leading investor in a strategic round investment that raised new capital, with the important participation of Jump Crypto and Wormhole.
Being the hyper-efficient multi-chain stableswap backed by Binance, Wombat’s dedication and conviction to thrive in the DeFi space aligned with the investor’s vision of funding the future of blockchain and the mission of working with projects that exhibit massive potential for success.
Shortly after the successful Series A funding led by Animoca Brands and Hailstone Ventures in March 2022, this latest round of funding will help Wombat gain even more momentum in its mission to be the best stable swap in existence.
The investors in the stable swap have a very positive outlook on their investment.
Yida Gao, general partner at Shima Capital, said,
“Stablecoins are the fundamental backbone of DeFi yet they bring a set of challenges, like building efficient stable swaps, that first-generation protocols still have trouble overcoming. With a world-class team, Wombat Exchange has pioneered an incredibly ingenious and mathematically sound product to solve many of those challenges and is well-positioned to build additional DeFi primitives that push the boundary of crypto innovation as we know it today. We are inspired by what Wombat can achieve and are excited to be on this journey with them.”
Saurabh Sharma, partner and head of venture at Jump Crypto, said,
“Wombat is a next-generation stable swap exchange that introduces elegant design principles such as invariant curve and asset-liability management for computational efficiency and improving liquidity. Furthermore, leveraging Wormhole’s generic message-passing protocol, Wombat offers seamless native swaps across multiple chains.”
About Shima Capital
Shima Capital is a venture capital firm based in California focused on supporting cutting-edge blockchain startups. The team consists of native blockchain investors with traditional VC experience and a deep network in Silicon Valley and Asia. They aim to invest in the future with pioneers in blockchain.
About Jump Crypto
Jump Crypto is the cryptocurrency extension of the well-established trading firm Jump Trading Group. Dominating every aspect of the crypto ecosystem, their strong organization backs protocols with bold visions and assists startups to achieve growth velocity.
About Wormhole
Wormhole is an interoperability protocol powering the seamless transfer of value and information across eight high-value chains with just one integration. Wormhole is a project by Certus One, which is owned by privately held Jump Trading, LLC.
About Wombat Exchange
Wombat Exchange is a BNB native multi-chain stable swap focused on re-engineering the stable swap experience through its algorithm design. Wombat’s vision is to fuel DeFi growth and push boundaries with greater capital efficiency, accessibility and scalability in a multi-chain world.
Wombat’s success in the Binance incubation program was followed by the Binance BNB chain most valuable builder season four incubation program, where it had the pleasure of being one of the monthly stars for January.
For more information about Wombat Exchange, visit the following links.
Website | Discord | Twitter | Medium | Telegram
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Source: https://dailyhodl.com/2022/04/18/wombat-exchange-raises-new-funds-in-a-strategic-round-investment-led-by-shima-capital/