Curated News
By: NewsRamp Editorial Staff
May 03, 2024

EYWA Raises $7M to Revolutionize Web3 Interoperability with CrossCurve

TLDR

  • EYWA secures $7 million in funding, delivering a new era of Web3 interoperability.
  • EYWA and Curve are developing a trustless bridge that relies on a consensus of messaging protocols.
  • EYWA's goal is to reshape the DeFi landscape, making cross-chain transfers more intuitive and less painful for traders.
  • EYWA Adventure Quest is underway, offering participants a chance to win a share of 50 million $EYWA through various activities.

Impact - Why it Matters

The groundbreaking partnership between EYWA and Curve Finance, along with the backing from industry leaders, is set to reshape the DeFi landscape and make cross-chain transfers more intuitive and less painful. The development of CrossCurve aims to create a one-stop-shop for traders and the overall impact is a potential shift in the way users interact with different blockchains, providing a seamless transfer of multiple token types.

Summary

EYWA, a consensus bridge that secures transactions across multiple protocols, has raised a total of $7 million as it delivers the new era of Web3 interoperability. The investment has been led by Curve Finance founder Michael Egorov — with the project recently attracting two new backers: Fenbushi Capital and GBV Capital. They joined a seed round alongside Big Brain Holdings, Marshland Capital, Mulana Capital and others. EYWA and Curve are working together to develop a trustless bridge that relies on a consensus of the most reliable messaging protocols available — eliminating dependence on a single bridge for moving large liquidity positions. At the heart of this quest to make cross-chain magic a reality is CrossCurve — an innovative DEX conceived through EYWA and Curve's partnership. It facilitates low-slippage cross-chain swaps of various asset types, supported by Curve’s deep liquidity in the billions of dollars. The overall goal is to reshape the DeFi landscape, make cross-chain transfers more intuitive and less painful, and create a one-stop-shop for traders. Major blockchains including Ethereum, BSC, Polygon, Avalanche, Arbitrum and Optimism are now under one roof — with support planned for more. Gaining momentum The fresh funding comes hot on the heels of EYWA winning the Start In Block competition at Paris Blockchain Week — and coming in first place. EYWA saw off competition from more than 800 Web3 startups with high potential, and pitched in front of hundreds of conference attendees on the master stage. The project is now advancing to the next round of the popular show Meet The Drapers, where aspiring entrepreneurs battle it out to win $1 million in funding from billionaire investor Tim Draper and a panel of guest judges. What's more, the EYWA Adventure Quest is underway — giving participants a chance to win a share of 50 million $EYWA. There are several ways of getting involved in this airdrop. The native $EYWA token is yet to launch, but a date for the token generation event is set to be revealed soon. About EYWA

EYWA eliminates reliance on a single bridge by utilizing a consensus of the most reliable bridges on the market. In conjunction with Curve, it has also created CrossCurve, which connects more than $2 billion of liquidity from different blockchains into a unified cross-chain market. You can follow EYWA on Twitter (X)TelegramDiscordMedium and LinkedIn. For more information, please contact: Faraj Abutalibov, CBDO and co-founder of EYWAvc@eywa.fi

Michael Egorovmichael@curve.fi

Disclaimer: The information provided in this press release is not a solicitation for investment, nor is it intended as investment advice, financial advice, or trading advice. It is strongly recommended you practice due diligence, including consultation with a professional financial advisor, before investing in or trading cryptocurrency and securities.


Source Statement

This curated news summary relied on content disributed by BlockchainWire. Read the original source here, EYWA Raises $7M to Revolutionize Web3 Interoperability with CrossCurve

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