Wombat Exchange Raises New Funds in a Strategic Round Investment led by Shima Capital

Wombat Exchange Raises New Funds in a Strategic Round Investment led by Shima Capital

Wombat Exchange gained the support of Shima Capital as the leading investor in a strategic round investment that raised new capital, with the important participation of Jump Crypto and Wormhole.

Being the hyper-efficient multi-chain stableswap backed by Binance, Wombat’s dedication and conviction to thrive in the DeFi space aligned with the investor’s vision of funding the future of blockchain and the mission of working with projects that exhibit massive potential for success.

Shortly after the successful Series A Funding led by Animoca Brands and Hailstone Ventures in March 2022, this latest round of funding will help Wombat gain even more momentum in its mission to be the best stableswap in existence.

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The investors in the stableswap have a very positive outlook on their investment.

Yida Gao, General Partner at Shima Capital said:

“Stablecoins are the fundamental backbone of DeFi yet they bring a set of challenges, like building efficient stableswaps, that first-generation protocols still have trouble overcoming. With a world-class team, Wombat Exchange has pioneered an incredibly ingenious and mathematically sound product to solve many of those challenges, and is well positioned to build additional DeFi primitives that push the boundary of crypto innovation as we know it today. We are inspired by what Wombat can achieve and are excited to be on this journey with them.”

“Wombat is a next generation stable swap exchange that introduces elegant design principles such as invariant curve and asset liability management for computational efficiency and improving liquidity”, said Saurabh Sharma, Partner and Head of Venture at Jump Crypto. “Furthermore, leveraging Wormhole’s generic message passing protocol, Wombat offers seamless native swaps across multiple chains.”

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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