izumi Finance, a platform providing liquidity as a service with Uniswap V3 and extending concentrated liquidity service for the multi-chain ecosystem, has just announced it has completed a fund raising in which it has raised $2.1 million.
The project has reported that the funds raised will be spent on the improvement of liquidity mining on Uniswap V3.
The funding round has been led by Mirana Ventures, with Everest Ventures Group, Youbi Capital, LucidBlue Ventures, Puzzle Ventures, WolfEdge, ICG, Adaptive Lab, Nothing Research and Tess Ventures also taking part in it.
The aim of the izumi protocol is to solve a pain point introduced with Uniswap V3 and its concentrated liquidity pools at the same time that it keeps innovating its liquidity mining initiatives over classical Uniswap V2-style pools.
izumi allows to provide non-homogenous liquidity incentives applied to specific price ranges of a Uniswap V3 pool, which in turn allows projects to fine tune their rewards to reach better outcomes.
Projects using izumi and specifying only specific price ranges where incentives are delivered can use Uniswap V3 for their farming incentives, while they avoid overpaying for liquidity they don’t actually need.
Jimmy Yin, founder of izumi Finance, said:
“We are excited to build Uniswap V3 LP Staking protocols to provide non-homogenous incentives in different price ranges. This will improve the efficiency of incentive distribution for reward providers and enhance the earnings of liquidity providers as well. With izumi, Uniswap V3 will become strong competitors with Curve in the stablecoin trading market and attract more potential projects who previously planned to launch farming pools in SushiSwap. We are going to unleash the potential of financial NFTs in Uniswap V3 and extend service to the multi-chain world in the future.”