Decentralized finance platform Atomiq DeFi has raised $3 million in seed funding led by enterprise capital agency X21 Digital, currencyjournals has realized.
The brand new capital injection will assist the event of the world's first atomic swap-powered decentralized trade (DEX) constructed utilizing the Mintlayer Layer 2 protocol.
This challenge is the primary to be promoted by Mintlayer and advantages from a $1.5 million grant from Mintlayer's Ecosystem Fund. Throughout this spherical, Atomiq DeFi additionally obtained assist from different enterprise capital companies together with AlphaBit, NXGen, Dutch Crypto Buyers (DCI Capital), Spicy Capital, and Altcoin Buzz.
Atomiq DeFi develops a collection of merchandise together with AomiDEX, a decentralized trade. ATOMiqPad, a launch pad for Bitcoin and Mintlayer primarily based tasks. ATOMiqWallet, a flexible pockets for BTC, MLS and EVM tokens. And atomic bridge. The latter product facilitates the switch of Whole Worth Lock (TVL) from EVM and different chains to the Bitcoin ecosystem.
The corporate has additionally shaped strategic partnerships with different Bitcoin DeFi tasks corresponding to SatoshiSync, Portal, and OrdinalsBot to construct a extra built-in Bitcoin ecosystem.
“Exploring the frontiers of Bitcoin DeFi, Atomiq DeFi’s DEX and its Atomic Swap expertise is really revolutionary. It’s like a brand new chapter within the blockchain evolution story,” stated Bitcoin Basis Founder. stated Charlie Shrem, advisor.
“As one of many early believers in Bitcoin and the mint layer, I couldn’t assist however really feel a surge of pleasure as I watched our path now merge with the groundbreaking work of Atomiq DeFi. It's an exciting time to be part of this journey.”
“The introduction of ATOMiq DeFi’s DEX powered by atomic swaps marks a pivotal second for Bitcoin. This can be a testomony to the modern spirit driving the DeFi area and the untapped potential of Bitcoin. This can be a clear signal that that is lastly being realized,” added Lester Lim, X21 Digital Lead Investor.
ATOMiq DeFi will faucet into the quickly increasing Bitcoin DeFi sector, a market that Pantera Capital estimates to be price $500 billion. The challenge's advisory board contains luminaries corresponding to Lester Lim of X21 and Charlie Shrem of the Bitcoin Basis. We’re presently in superior discussions and thorough due diligence with a number of top-level launchpads.
Initiatives like Ordinals are introducing modern options to the Bitcoin community and rising curiosity in Bitcoin’s DeFi capabilities. Nonetheless, the reliance on wrapped Bitcoin and its variants required custodians to handle reserves, undermining the decentralized nature of those constructions.
To handle these points in Bitcoin DeFi, the idea of atomic swaps is gaining traction. Atomic swaps allow direct blockchain-to-blockchain transactions, permitting these transactions to happen concurrently and eliminating dependence on wrapped tokens.
