Ammalgam, a Decentralized Lending Exchange (DLEX), announced the close of a $2.5M seed round co-led by Lightspeed Faction and Framework Ventures with additional participation from Robot Ventures, Bodhi Ventures, NGC Ventures, DeWhales, Blockchain Founders Fund, and angels including Kain Warwick, Anton Bukov, Spencer Noon, and Jordi Alexander.
Ammalgam plans to utilize this investment towards the protocol’s growth and development by expanding on key talent and improving product development on current and future solutions. The company intends to conduct audits to ensure operational efficiency and effectiveness, while also investing in go-to-market strategies.
“We are transforming decentralized finance by enhancing capital efficiency without additional risks,” said Will Fey, Founder of Ammalgam, “Through our innovative lending methods and advanced visualization tools, we provide users with easy access to sophisticated payouts and insights into the impact of price fluctuations and fees, making for a robust user experience in the DeFi ecosystem”.
Ammalgam combines lending and trading into a single protocol, DLEX, to enhance capital efficiency by utilizing idle assets and offering higher yields without additional risks. DLEX supports advanced users and passive Liquidity Providers (LPs) by providing unlimited trading strategies and guarantees true autonomy that is permission-less and oracle-free with zero dependencies.
Ammalgam offers three lending methods for unutilized assets from the trading pool, traditional DeFi lending and borrowing, and impermanent gain to counteract loss. In addition to lending methods, Ammalgam offers users instant access to assess potential payout positions through payout charts and a novel visualization tool, UI, to display the impact of price fluctuations and fees earned or incurred by LPs throughout the duration of their position.
Investor Quotes
Will Leas, Deal Partner at Lightspeed Faction, said, “Ammalgam brings the power and functionality of DEXs, lending, options, hedging and perpetual protocols into a single primitive, improving capital efficiency and yield generation options in DeFi. Will is one of the sharpest builders we’ve come across and we couldn’t be more excited to back him and the Ammalgam team on their journey.”
“Ammalgam is driving the next phase of AMM innovation by improving capital efficiency for LPs while providing traders with unique payoff structures,” said Roy Learner, Partner at Framework Ventures. “While the DeFi space has been plagued by fast forks and copy cats, we were impressed by Will’s vision to build a net new primitive within DeFi. We’re excited to back Ammalgam as they lead the next major evolution in DeFi.”
Santiago R Santos, an early investor in Ammalgam, said “Not every day you come across something new in DeFi. Combining lending and trading in one protocol improves capital efficiency and reduces risk for LPs. This may be the most exciting primitive since AMMs. I’ve seen how Will and the team have developed the protocol since day 1 and it’s been nothing short of wizardry – the best teams manage to do a lot with little resources. Excited to see what they do in this next chapter.”
Stay Ahead of the Financial Curve with Our Latest Fintech News Updates!
