Crypto Startup Swing Hits $6 Million in Strategic Financing Round


Swing seta blockchain startup that enables cross-chain liquidity and liquidity aggregation across blockchains has announced it has raised $6 million in a strategic round of funding from leading investors in the blockchain ecosystem.

The Ethereum ecosystem, which houses various trading, lending and lending protocols, dominates the decentralized financial (DeFi) area. This reverberates across the network, pushing Ethereum to its limits, but also accelerating the pace of invention and experimentation. Swing uses Tier 1 and Tier 2 solutions like Polygon, Binance Smart Chain, Avalanche, Solana, Arbitrum and more to go beyond and challenge Ethereum’s performance limitations.

The strategic funding round was led by Republic Capital and also saw participation from blockchain-centric VCs including Avalanche Labs, Bitcoin.com, Skynet EGLD Capital, Celer, Ascensive Assets, Haskey, Morningstar Ventures, Kane & Rao among others. With this round of strategic funding, Swing has reached a valuation of $60 million, making it one of the most sought-after projects in the DeFi space.

With this successful fundraiser, Swing aims to accelerate its plans to launch APIs to aggregate key liquidity sources and bridges with the aim of enabling cross-chain liquidity and moving closer to its vision of decentralized liquidity in the DeFi multi-chain ecosystem. The funding will be used to drive Swing’s team development and expansion.

The Future of DeFi: A Big Step Towards Cross-Chain Infrastructure for the Internet

The total value locked in (TVL) in the DeFi space, a measure of the number of assets deployed in a specific protocol, quadrupled in 2021 alone will bring his TVL to USD 201.55 billion in 2022. The DeFi space has witnessed a boom of decentralized exchanges (DEXs) and protocols, the problem of sporadic liquidity is always persistent. Furthermore, DEX aggregators are reluctant to connect liquidity pools on the Ethereum chain, limiting the possibilities of multi-chain liquidity aggregation.

While Ethereum is one of the most prominent chains for building protocols, it’s no revelation that network congestion and glaring lack of scalability has led to high latency and soaring gas prices.

It is abundantly clear that blockchain interoperability is the need of the hour to solve the problem of liquidity fragmentation on DEXs. This is why Swing is an efficient cross-chain infrastructure for the internet, which will compound and aggregate liquidity across blockchains and thereby move assets across multiple ecosystems with minimal slippage. This would become an indispensable part of the DeFi ecosystem.

By enabling cross-chain transactions, the project aims to usher in a new era of decentralized trading. With these features and offers, Swing wants to de Stripe for cross-chain transactions. Just as Stripe enables websites and apps to make payments across their websites, Swing’s highly anticipated API product will simplify cross-chain swaps and transfers for developers and businesses.

By enabling cross-chain transactions, the project aims to usher in a new era of decentralized trading. By offering a cross-chain asset exchange and decentralized liquidity protocol that leverages Layer 2 chains and major EVM networks, DeFi traders, investors and developers can use Swing to efficiently move crypto capital across blockchains. AMM dexes, yield farms, lending/borrowing and staking protocols will greatly benefit from Swing’s cross-chain bridging solution. Swing navigates top protocols and exchanges on Layer 1 and 2 chains with its cross-chain bridges and intelligent algorithms to beat and match market swap prices.

Swing is currently compatible with Ethereum, Polygon, Binance Smart Chain, Harmony, Avalanche, xDai, Moonriver, and Phantom, and will reportedly expand to Solana, Harmony, Polkadot, Cardano, Optimism, and Near soon.

Closing Thoughts

The coexistence and interoperability of multiple blockchains is a necessity for the continued growth and survival of the DeFi industry. In this light, the search for an efficient and simple cross-chain trading and liquidity aggregator is more important than ever. This is where Swing’s offering to go the last mile for crypto liquidity has become a critical part of the entire crypto infrastructure.

Swing will be a unique game changer to enable developers, investors and users around the world to move crypto assets effortlessly using blockchain smart contracts, relayers and cross-chain bridges.

The future is multi-chain! Think multichain, think Swing!

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