SithSwap, a Road Town, British Virgin Islands-based provider of an automated market maker (AMM) on StarkNet, raised $2.65m in funding at a $25m valuation.
The round was led by Lemniscap, with participation from Big Brain Holdings, GSR, DWeb3 Capital, Ghaf Capital Partners, Anthony Beaumont and Etienne Royole.
The company intends to use the funds to expand its talent pool by hiring talented Cairo developers, and expedite the deployment of the core AMM contracts to the Starknet Alpha Mainnet.
SithSwap is a next-gen Automated Market Maker on StarkNet featuring instant volatile and stable swaps with ultra-low slippage, near-zero gas fees and the full security of Ethereum. SithSwap will natively support pool gauges, bribes and protocol rewards that can be locked in exchange for voting power to govern future protocol emissions and 3rd-party incentives.
FinSMEs
22/06/2022