March 08, 2024
Blackwing has completed a $4.5 million funding round led by Hashed and Gumi Cryptos. The investment is aimed at developing the first modular layer 2 blockchain designed for liquidation-free leveraged trading for any asset. The blockchain uses an approach called Limitless Pools, enabling users to trade with borrowed funds without facing forced liquidations.
Project | Latest Raise | Latest Raise | Stage | Total Raise | Lead Investor | Category |
|---|---|---|---|---|---|---|
Blackwing | Mar 8, 2024 | $4.5M | Seed | $4.5M | Hashed | DeFi |
Blackwing is built on Initia, facilitating seamless trading across any modular app chain while maintaining decentralization. Once funds are placed on Blackwing, traders can trade assets from any modular app chain without transferring funds across different networks, offering cost savings and enhanced security.
The founders, Shahmeer Navid and Zorayr Khalapyan, bring experience from Robinhood and Meta, highlighting their capability to drive this project forward and expand the modular blockchain ecosystem.
Blackwing’s Limitless Pools provide a solution for liquidation-free leverage trading by converting liquidity provider positions into collateral. This ensures the original position used for trading on borrowed funds can be recreated regardless of asset price movements. Liquidity providers benefit from earning more fees, and traders benefit from safer leverage. Blackwing’s modular architecture represents a shift from traditional monolithic chains to a decentralized ecosystem of app chains. This model simplifies network operations and enhances efficiency, allowing cross-chain asset trading without new wallets or bridges.
The platform also introduces an intent-solver architecture that abstracts execution complexities, focusing on fulfilling traders' intents. This aims to simplify the trading process, allowing users to concentrate on their investment objectives.
About Blackwing:
Blackwing is a modular blockchain designed for liquidation-free leverage trading for any asset. It aims to redefine the trading landscape for digital assets by harnessing technological advancements and fostering a collaborative ecosystem.
Website: https://blackwing.fi/
X Account: https://x.com/blackwing_fi
About Investor
Investor: Hashed
Hashed is a venture capital firm that invests in blockchain and cryptocurrency projects. It focuses on supporting innovative solutions that advance the decentralized finance ecosystem.
Location: United States
Website: https://www.hashed.com
A central focus of investor activity in the cryptocurrency space is the evaluation of new crypto projects to invest in, particularly those with huge potential. This blog provides insight into what new ventures are benefiting from venture capital support (VC funding in crypto). These new crypto projects, funded by professional investors, can dictate the next narrative in crypto and the next big crypto movers.
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