KuCoin, Gate.io, and MEXC List EYWA Token

On December 20, cryptocurrency exchanges KuCoin, Gate.io, and MEXC listed EYWA, the native token of the eponymous cross-chain protocol. The project team informed ForkLog of this development.

EYWA is a cross-chain liquidity protocol aimed at addressing two issues in the DeFi ecosystem: bridge vulnerabilities and liquidity fragmentation. The project has raised $8.5 million from Fenbushi Capital, GBV Capital, Big Brain Holdings, Marshland Capital, Mulana Ventures, and other venture funds. The lead investor was Curve founder Mikhail Egorov.

On December 21, the strategic funding round for EYWA saw participation from 1inch founders Anton Bukov and Sergey Kunz, as well as Kenetic Capital.

The core product of the ecosystem is the cross-chain DEX CrossCurve, designed for asset exchange across different blockchains with low slippage. As of December, its TVL exceeded $21 million, trading volume surpassed $1.85 billion, and the total number of transactions was over 3.5 million.

“Liquidity fragmentation is one of the key issues in DeFi, increasing costs and reducing efficiency. CrossCurve addresses this problem by pooling liquidity in a single pool accessible across multiple networks simultaneously,” project representatives comment.

In November, CrossCurve hosted the first cross-chain listing of the Units Network (UNIT0) token. Following the listing, UNIT0 became available for trading across 16 blockchains.

“Previously, projects created separate pools for each network, which was inconvenient and costly. CrossCurve simplifies this process by consolidating liquidity on one platform,” EYWA notes.

The project team added that the listing of EYWA marks a new milestone in the project’s development and fits perfectly with current market trends and the rapidly growing DeFi sector.

Current price and market capitalization data for EYWA are available on CoinMarketCap and CoinGecko.

Previously, ForkLog published educational cards about cross-chain bridges.