Ammalgam, a Singapore-based decentralized lending exchange (DLEX) provider, raised $2.5M in funding.
The round was led by Lightspeed Faction and Framework Ventures with participation from Robot Ventures, Bodhi Ventures, NGC Ventures, DeWhales, Blockchain Founders Fund, and angels including Kain Warwick, Anton Bukov, Spencer Noon, and Jordi Alexander.
The company intends to use the funds to accelerate its protocol’s growth and development by expanding on key talent and improving product development on current and future solutions. Ammalgam intends to conduct audits to ensure operational efficiency and effectiveness, while also investing in go-to-market strategies.
Led by Will Fey, Founder, Ammalgam is a new primitive that combines lending and trading into one protocol called Decentralized Lending Exchange (DLEX). This combination creates Capital Efficiency resulting in increases in yield for Liquidity Providers (LPs). It offers unbounded utility through unlimited trading strategies, catering to both advanced users and those preferring a UI designed for passive LPs. Lastly, it ensures autonomy that is permissionless and oracle-free, with zero dependencies.
Ammalgam offers three lending methods for unutilized assets from the trading pool, traditional DeFi lending and borrowing, and impermanent gain to counteract loss. In addition to lending methods, the company offers users instant access to assess potential payout positions through payout charts and a novel visualization tool, UI, to display the impact of price fluctuations and fees earned or incurred by LPs throughout the duration of their position.
FinSMEs
11/09/2024