izumi raises $2.1M, provides liquidity on Uniswap V3

izumi Finance, a protocol providing liquidity as a service based on Uniswap V3 (UNI/USD), announced it raised a total of $2.1 million in a funding round led by Mirana Ventures, Invezz learned from a press release. izumi has backing from Puzzle Ventures, Everest Ventures Group, ICG, Nothing Research, Youbi Capital, Tess Ventures, and LucidBlue Ventures.

Innovating liquidity mining initiatives  

As a protocol, izumi aims to innovate liquidity mining initiatives over classical Uniswap V2-style pools while solving the issue with Uniswap V3’s concentrated liquidity pools. izumi is unique in that it can apply non-homogenous liquidity incentives to specific Uniswap V3 pool price ranges, making it possible for projects to achieve better outcomes by effectively fine tuning their rewards.

Saving money from unnecessary liquidity

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One problem izumi has been able to solve is excessive dilution of a project’s token in an attempt to bootstrap liquidity. Projects can use V3 for farming-related purposes without overpaying for unnecessary liquidity. Users who can provide liquidity in the same price range on V3 will earn the most liquidity mining rewards.

izumi takes advantage of Uniswap flexibility

While launching the liquidity mining program on izumi, projects will have more capital efficiency and a more concentrated liquidity. The Uniswap ecosystem has not attracted many high quality liquidity mining schemes since its launch. Its peculiar NFT-based positions, which are very complicated, partially account for this.

izumi fills this market gap, taking full advantage of the flexibility V3 provides. Thus, the incentive structures they can create will be a massive improvement over classic Uniswap V2 pools.

Jimmy Yin, Founder of izumi Finance, said:

We are excited to build Uniswap V3 LP Staking protocols to provide non-homogenous incentives in different price ranges. This will improve the efficiency of incentive distribution for reward providers and enhance the earnings of liquidity providers as well. With izumi, Uniswap V3 will become strong competitors with Curve (CRV/USD) in the stablecoin trading market and attract more potential projects who previously planned to launch farming pools in SushiSwap (SUSHI/USD). We are going to unleash the potential of financial NFTs in Uniswap V3 and extend service to the multi-chain world in the future.

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