ChainCatcher news, the market-making protocol Swaap has been deployed to the zkRollup-based Ethereum Layer 2 network Taiko testnet. Swaap will support the Taiko ecosystem, providing risk-adjusted returns for a highly engaged DeFi native audience.Swaap will launch a series of tasks on the all-in-one marketing platform for Web3 projects, Tide, where users can earn special NFTs by completing tasks.

ChainCatcher news, market-making protocol Swaap has completed a $4.5 million seed round financing, led by Signature Ventures, with participation from New Form Capital, C²Ventures, Kima Ventures, Pareto Ventures, Entrepreneur First, as well as angel investors such as Julien Bouteloup (Stake Capital), Pascal Gauthier (Ledger CEO), Richard Ma, Meltem Demirors (Coinshares CSO), Frederic Montagnon (Arianee co-founder), and Thibaud Elzière (eFounders CEO).It is reported that Swaap aims to build the next generation of market-making protocols, which leverage a combination of oracle and dynamic spreads to achieve sustainable returns and reduce trading costs. Its unique approach aims to provide LPs with passive and profitable market-making strategies, addressing the critical issue of impermanent loss that is prevalent in DeFi. (Source link)