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New York, United States, March seventh, 2024, Chainwire
Blackwing has accomplished a $4.5 million funding spherical led by Hashed and Gumi Cryptos. The funding is for the event of the primary modular layer 2 blockchain designed for liquidation-free leveraged buying and selling for any asset. The blockchain makes use of an modern strategy referred to as Limitless Swimming pools, enabling customers to commerce with borrowed funds with out dealing with pressured liquidations.
Pioneering the frontiers of modular chain infrastructure, Blackwing is constructed on the muse supplied by Initia, enabling seamless buying and selling throughout any modular app chain whereas upholding the ideas of decentralization. As soon as merchants place funds on Blackwing, they’ll commerce on property from any modular app chain with out transferring funds throughout completely different networks, presenting important value financial savings and extra safety.
Each founders, Shahmeer Navid, and Zorayr Khalapyan, carry years of expertise from Robinhood and Meta, highlighting the potential of the crew to take such a momentous endeavor and push the boundaries of the modular blockchain ecosystem.
Blackwing’s lead investor, Baek Kim, associate at Hashed VC, states: “Giving merchants the power to commerce any asset from any chain with leverage with out the worry of liquidation is a serious step ahead in DeFi and is a major enchancment in product expertise, safety, and prices for merchants.”
Blackwing’s Limitless Swimming pools provide a novel resolution for liquidation-free leverage buying and selling. By changing liquidity supplier positions into collateral, the platform ensures that the unique place used for buying and selling on borrowed funds may be recreated, no matter asset worth actions. With this new assemble, liquidity suppliers profit from incomes extra charges, and merchants profit from safer leverage.
Miko Matsumura, managing associate at gumi Cryptos Capital, stated: “It is a profoundly thrilling new mechanism. This crew has created a breakthrough mannequin that’s in the end trader-friendly.”
The platform’s modular structure represents a shift from conventional monolithic chains to a extra decentralized ecosystem of app chains. This mannequin simplifies community operations and enhances effectivity, permitting cross-chain asset buying and selling with out new wallets or bridges.
Co-founder, Shahmeer, states: “Throughout the web3 ecosystem, we’re on a precipice of change with the introduction of modular chains. As a substitute of single, giant monolithic chains dominating the ecosystem, we’ll see a Cambrian explosion of highly-specialized and scalable interwoven app chains that every one work collectively to onboard the subsequent era of merchants.”
Moreover, Blackwing introduces an intent-solver structure that abstracts execution complexities, specializing in fulfilling merchants’ intents. This mannequin goals to simplify the buying and selling course of, permitting customers to focus on their funding targets.
About Blackwing
Blackwing is the modular blockchain for liquidation-free leverage buying and selling for any asset. By harnessing technological developments and fostering a collaborative ecosystem, Blackwing seeks to redefine the buying and selling panorama for digital property.
Co-FounderZorayr Khalapyan[email protected]
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