Road Town, British Virgin Islands, May 02, 2024 (GLOBE NEWSWIRE) -- 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.
Michael Egorov says: "EYWA builds a very interesting solution — it’s not just your typical bridge. They solve the problem of liquidity fragmentation between chains by creatively composing Curve meta pools and the actual bridge. Having one liquidity pool working across multiple chains sounds like magic, and it is exciting to have Curve AMMs in the core of this magic."
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. CrossCurve supports the seamless transfer of multiple token types — from stablecoins to liquidity provider and liquid staking tokens.
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.
- One point is earned for every dollar of trading volume generated through swaps on CrossCurve
- Those who provide liquidity to Curve pools can also earn up to five points a day — as well as 50% of the swap fees
- Exclusive EYWA NFTs can also be earned by completing tasks on Galxe, which are named after iconic explorers including Vasco da Gama, Christopher Colombus and Marco Polo
- Referring others to join CrossCurve means you'll receive a share of their points, too
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), Telegram, Discord, Medium and LinkedIn.
For more information, please contact:
Faraj Abutalibov, CBDO and co-founder of EYWA
vc@eywa.fi
Michael Egorov
michael@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.
Faraj Abutalibov vc (at) eywa.fi
