Jumbo raises $3.5 million to deploy its decentralized exchange ecosystem for the NEAR protocol

LONDON, January 10, 2023 /PRNewswire/ — Jumbo, a leading decentralized exchange built on the NEAR protocol, is proud to announce the successful completion of a $3.5 million Fundraising round led by Pantera and Huobi Incubator, with additional funding from DWEB3, D21 Ventures, Metaweb Ventures, Fundamental Labs, Proximity and Genblock Capital.

The funds helped develop the user-friendly design and feature offerings that have positioned Jumbo as one of the largest DEXs on NEAR since its inception in late 2021. Jumbo Exchange also uses HAPI, a novel security system that uses Know-Your-Transaction (KYT) technology to ensure user safety.

“Thanks to investors’ trust, Jumbo offers a user-friendly exchange experience that is rapidly evolving and keeping pace with market demands and the NEAR ecosystem,” said Alex Dyatlenko, CEO of Jumbo.

Jumbo is proud to offer DeFi users a highly intuitive user experience with instant swaps, high yields and seamless pool transition, as well as permissionless liquidity pools for liquidity providers. So far, the exchange has reaped $19.5 locked in total value (TVL), $745 million in cumulative volume and has a user base consisting of more than 20,000 unique wallets.

“Our goal remains to provide the DeFi community with the most intuitive experience possible,” said Alex Dyatlenko, CEO of Jumbo. “And since the NEAR ecosystem is still in its infancy, at Jumbo we are doing everything we can to bring it towards the mainstream with this easy access to the NEAR space. To this end, we attract new and new investments in product as we develop it.”

Jumbo has big plans for 2023, including smart route trading, staking and more, to follow in the first quarter of the year. For more information on Jumbo and its upcoming plans, visit https://jumbo.exchange/.

About jumbo

Jumbo is an AMM-powered decentralized exchange based on the NEAR protocol, offering everyone a cheap, seamless and unrestricted way to trade. Since its inception in 2021, Jumbo has recorded more than $19.5 locked in total value (TVL), $745 million in cumulative volume and has a user base of more than 20,000 unique wallets. Visit https://jumbo.exchange/ for more information.

SOURCE Jumbo Exchange

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