Swaap is a firm that operates in decentralized finance and revolutionizing the sector with its cutting-edge market-making models, improved performance and access to a wide variety of digital assets and token options including yield-bearing assets. The platform was developed in collaboration with the Louis Bachelier Institute using the innovative AMM(Automatic Market Maker) simulator. By leveraging its infrastructure, Swaap offers an enhanced experience for liquidity providers with on-chain liquidity pools. The firm prides itself in its next-generation market-making protocol. The protocol leverages oracles and dynamic spread to achieve sustainable yields and reduce trading costs. Swaap was co-founded by David Bouba and Cyrille Pastour.
Swaap Labs, the company building Swaap, has recently announced the closure of a seed funding round that yielded $4.5 million in funding. The funding round was led by Signature Ventures and saw participation from other firms including New Form Capital, C² Ventures, Kima Ventures, Pareto Ventures and Entrepreneurs First, where Swaap co-founders met. The event also saw participation from notable angel investors including Julien Bouteloup from Stake Capital, Pascal Gauthier – Ledger CEO, Richard Ma – Quantstamp CEO, Meltem Demirors – Coinshares CEO and Tegan Kline – from The Graph among others.
The first version of Swaap was launched in 2022 on the Polygon Chain and has already proven that profitable market-making on-chain is possible. According to data, its WBTC / WETH / USDC liquidity pool, powered by Chainlink price feeds, has made an impermanent loss of less than 0.1%. It is crucial to mention that impermanent loss is a critical issue that is prevalent in decentralized finance. To address this issue, Swaap’s approach aims to provide liquidity providers with passive and profitable market-making strategies.
Since its inception, the Swaap Network has managed to achieve a total volume of over $6 Million in transactions and a TVL(Total Value Locked ) of over $2 Million in assets. The chain has also managed to average an APR(Annual Percentage Rate) of over 1.5% in its crypto compound interest. The firms platform also combines more than 2000 Liquidity Providers in its operations. Swaap has plans to release the second version of the Swaap platform that is set to disrupt the DeFi landscape with a suite of new features and enhancements.
Swaap V2 boasts innovative architecture that is poised to effect significant improvements in data latency and the overall performance of the platform. These new features are geared towards minimizing risks while maximizing opportunities for the platform’s users. The new version can be accessed in beta version via a waitlist on Swaap’s website. With the new funding in place, Swaap aims to shape tomorrow’s finance.
