Tsunami Finance, a futures and spot trading platform built on Aptos and conducting its community testing on the Aptos Testnet network, has raised $1.3 million in pre-seed funding, led by Big Brain Holdings and Mirana. The financing will help accelerate the company’s growth.
Other participants include ZetaMarkets, HedgeLabs, Pontem, Brilliance Ventures, BuilderVC, Marin Digital Ventures, 0xSoju, Switchboardxyz, Coral DeFi, RandRCapital, Aptos Monkeys, Time Research and more.
According to Tsunami Finance, the funds raised in the pre-seed round will be used to pay the developers, business development and community management.
Tsunami Finance is the first DEX on Aptos that prices the liquidity of all assets and provides liquidity pools with an appropriate pricing mechanism. Usually, the liquidity pools on DEX experiencing toxic flows have problems and on the other hand, the Automated Market Makers (AMMs) do not do a good job of pricing the on-chain liquidity. This is where Tsunami steps in to bridge the gap and minimize liquidity pricing issues and protect liquidity pools from liquidity delivery risks.
Tsunami offers a pooled LP token (TLP) that minimizes the risk of fickle losses by diversifying into blue-chip cryptos and stablecoins while maximizing rewards by generating leveraged trading fees on top of swap fees. While Tsunami works both ways, it’s also working to provide a way to trade with 0% price impact, known exit liquidity, low funding fees, a low spread, and collateral that appreciates in value over time.
Tsunami’s testnet is currently live and you can check it out at tsunami.finance.
We are pleased to announce that @TsunamiFinance_ has raised $1.3M in pre-seed funding led by @BigBrainVC and @mirana to accelerate our growth on @Aptos_Network. pic.twitter.com/hEJyQkE3jn
— Tsunami.Finance 🌊 (@TsunamiFinance_) February 24, 2023
Tsunami chose to launch on Aptos because the chain was built on top of the Move programming language, and from the start the Aptos Network core team has been very responsive to the teams building on the chain.
Learn Crypto Trading, Yield Farms, Income strategies and more at CrytoAnswers
https://nov.link/cryptoanswers
Comments are closed.