Decentralized monetary platform Atomiq DeFi has raised $3 million in seed funding led by enterprise capital agency X21 Digital, fromcrypto has discovered.
The contemporary capital injection will assist the event of the world’s first decentralized change powered by Atomic Swap (DEX) on , constructed utilizing the Mintlayer layer-2 protocol.
The challenge was the primary to be incubated by Mintlayer and is benefiting from a $1.5 million grant from Mintlayer’s Ecosystem Fund. Atomiq DeFi additionally acquired backing from different enterprise capital corporations throughout this spherical, together with AlphaBit, NXGen, Dutch Crypto Traders (DCI Capital), Spicy Capital and Altcoin Buzz.
Atomiq DeFi is growing a set of merchandise that features AtomiDEX, a decentralized change; AtomiqPad, a launch pad for bitcoin and mintlayer based mostly initiatives; AtomiqWallet, a flexible pockets for BTC, MLS and EVM tokens; and AtomiqBridge. The latter product facilitates the switch of Whole Worth Locked (TVL) from EVMs and different chains to the Bitcoin ecosystem.
The corporate has additionally fashioned strategic partnerships with different Bitcoin DeFi initiatives akin to SatoshiSync, Portal and OrdinalsBot to create a extra built-in Bitcoin ecosystem.
“Exploring the boundaries of Bitcoin DeFi, DEX Atomiq DeFi and its atomic swap expertise are nothing in need of revolutionary. It is like we’re opening a brand new chapter within the saga of blockchain evolution,” stated Charlie Shrem, founder and advisor to the Bitcoin Basis.
“As one of many early believers in Bitcoin and Mintlayer, I can not assist however really feel a rush of pleasure to see how our journey now connects with Atomiq’s pioneering DeFi efforts. It is an thrilling time to be part of this journey.”
“The introduction of Atomiq DeFi’s atomic swap DEX marks a pivotal second for Bitcoin. It is a testomony to the progressive spirit driving the DeFi house and a transparent signal that Bitcoin’s untapped potential is lastly being realized,” added Lester Lim, X21 Digital Lead Investor.
Atomiq DeFi is poised to faucet into the fast-growing Bitcoin DeFi sector, a market estimated by Pantera Capital to be price $500 billion. The challenge’s advisory board consists of outstanding figures akin to Lester Lim of X21 and Charlie Shrem of the Bitcoin Basis. Superior discussions and thorough due diligence are at present underway with a number of prime startup panels.
Initiatives like Ordinals have launched progressive options to the Bitcoin community, sparking elevated curiosity in Bitcoin’s DeFi capabilities. Nonetheless, reliance on Wrapped Bitcoin and its variants launched the necessity for depositories to handle reserves, compromising the decentralized nature of those buildings.
To resolve these issues in Bitcoin DeFi, the idea of atomic swaps has emerged. Atomic swaps allow direct transactions throughout the blockchain and be certain that these transactions are executed concurrently, eliminating the reliance on wrapped tokens.
