Izumi Finance is a multi-chain DeFi(Decentralized Finance) protocol that offers one-stop LaaS(Liquidity as a Service). The “one-step” liquidity service offered by Izumi Finance facilitates the conversion of one asset into another asset or cash. According to data available on its online platform, the platform has a TVL(Total Value Locked) of around $87 million and in the past 24hrs, the platform has managed to achieve a $7.09 million trading volume. The firm also partners with other liquidity providers including BitDAO, Nebulas, Apex, BurgerCities and Zebec among others.
The multi-chain decentralized protocol has announced the conclusion of an undisclosed funding round that yielded $22 million in financing. The funding round was more complicated than a typical “cash in, equity out” arrangement and involved the firm offering an iZUMi zk-fund through strategic partner Solv Protocol – a semi-fungible token. Investors who purchase the fund receive an SFT in their wallet to represent their share therefore, making them a limited partner in the fund. Upon maturity of the fund, investors can redeem their SFT for their principal investment.
The funding round garnered participation from numerous venture capitals including Unicode Digital, NextGen Digital Venture, Bella Protocol and Incuba Alpha Labs among others. The proceeds acquired from this financing round will be utilized in proving early liquidity for the startup’s on-chain order book decentralized exchange, iZiSwap Pro, that is now available on the zkSync Era Network.
IZiSwap Pro, one of Izumi’s newer products, is an automated market maker-driven order book and decentralized exchange which according to the company, reduces transaction costs and mitigates the custody risks of similar products in the market. Based on an innovative Liquidity-AMM(Automated Market Maker) model, the tool creates capital efficiency on a next-generation decentralized exchange that has already gone live on the BNB chain. The product is precise as users can trade tokens at an exact price to avoid front-run and slippage. Apart from high capital efficiency, users can also enjoy more Liquidity Provider fees and a high APR(Annual Percentage Rate) while keeping their assets 100% secure in their wallets in a fully decentralized an non-custodial way.
Izumi also offers a range of other products including LiquidBox, iUSD and DAO veNFT among others. LiquidBox is a non-custodial solution for programmable liquidity mining on UniSwap V3 and iZiSwap while iUSD is the first liquidity-mining based bond with no impermanent loss for LP(Liquidity Provider) farming and 100% collateralized by Izumi Finance. DAO veNFT on the other hand, is a product providing the governance rights for Izumi Finance which include voting, boosting and returning staking rewards.
