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Swim Protocol, a recently created multi-chain automated market-making (AMM) bridge pool, has acquired $4 million in early funding from Pantera Capital.

Coinbase Ventures, Solana Ventures, Jump Capital, Social Capital, IOSG Ventures, Rok Capital, GBV Capital, Mantis VC, Panony, Bonfida, FTX, and Alameda Research were among the venture capital companies and businesses who participated in the seed fundraising round. In addition, phantom Wallet’s Brandon Millman, Polygon’s Dean Thomas, and Avalanche’s Phillip Liu are individual angel investors.

Swim Protocol, a multi-chain AMM, allows native-to-native cross-chain swaps between the different decentralized financial blockchains it supports. It uses Solana’s Wormhole technology, a communication bridge between Solana and other leading decentralized finance (DeFi) networks, to give users a smooth and easy manner of transferring tokens across chains through multi-token liquidity pools.

Multiple current projects, platforms, and communities may now move or trade tokenized assets between blockchains via Solana’s Wormhole, all while benefiting from the Solana blockchain‘s quick and highly scalable feature set. Swim Protocol, in essence, allows users to bypass centralized bridges, eliminating delays and the need for wrapped assets or tokens for exchanges.

According to Swim Protocol, the startup’s initial capital will be used to employ professionals and assist its go-to-market strategy, with its minimum viable product now ready for an official Alpha Launch with early features available for deployment. Following that, Swim Protocol plans to open more pools, introduce cross-chain bridging functionality for a wider range of assets, and eventually issue $SWIM, its native governance token.

Swim Protocol’s cross-chain infrastructure is built for the multi-chain DeFi market, with a total value of $74 billion (TVL). Aside from Solana, Swim Protocol’s multi-chain network also offers swaps for native assets from significant blockchains like Ethereum and BNB Chain (previously known as Binance Smart Chain) and other Layer 2 protocols working off of these primary blockchains. The protocol’s project plan also includes support for new networks, including Polygon, Terra, and Avalanche.

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