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 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.
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.”
About Shima Capital
Shima Capital is a leading early stage VC firm investing in disruptive crypto and blockchain technology companies. Backed by some of the largest names in the crypto and traditional finance space, the Shima Capital team is comprised of native blockchain investors, researchers, and seasoned operators.
About Jump Crypto
Jump Crypto is a leading research, development and investing firm building the next frontier in crypto infrastructure. Jump Crypto has been partnering, innovating, and trading in the crypto world for years with the aim to help lay down the pavers and conduit that will shape the future of the industry.
About Wormhole
Wormhole is an interoperability protocol powering the seamless transfer of value and information across eight high value chains with just one integration. Wormhole is a project by Certus One, which is owned by privately held Jump Trading, LLC.
About Wombat Exchange
Wombat Exchange is a BNB native multi-chain stableswap focused on re-engineering the stableswap experience through its algorithm design. Wombat’s vision is to fuel DeFi growth and push boundaries with greater capital efficiency, accessibility, and scalability in a multi-chain world.
Wombat’s success in the Binance Incubation Program was followed by the Binance BNB Chain Most Valuable Builder Season 4 Incubation Program, where it had the pleasure of being one of the monthly stars for January.
For more information about Wombat Exchange, visit the following links:
