[PRESS RELEASE – Paris, France, April 19th, 2023] Swaap Labs, the company building Swaap, has successfully secured over $4.5 million in seed funding. Swaap builds the Next-Generation Market Making Protocol that leverages a combination of oracles and dynamic spread for sustainable yields and reduced trading costs. Its unique approach aims to offer liquidity providers (LPs) passive and profitable market-making strategies, addressing the critical issue of impermanent loss, prevalent in DeFi.
Launched in July 2022 on Polygon, Swaap v1 has already proven that profitable market-making on-chain is possible. Its WBTC / WETH / USDC pool, powered by Chainlink price feeds, has recorded less than 0.1% of impermanent loss.
Swaap v2 is set to revolutionize the DeFi landscape with its new enhancements and features, further improving v1. It employs the most advanced market-making models in DeFi, built by leveraging the AMM (automated market maker) simulator developed in collaboration with the Louis

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