Blockchain.com leads $2 million seed round for Symbiosis Finance

The multi-chain liquidity protocol Symbiosis Finance has completed a $2 million seed funding round led by Blockchain.com Ventures, Forklog reported.

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Participants in the round also included Wave Financial, BTC Inc, KuCoin Labs, Injective Labs, DAO Maker, Primitive Ventures, Kairon Labs, Gate.io and Avalanche.

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The Symbiosis Finance team plans to launch a public testnet by the end of the week. The project will enable token swaps between major native DeFi-networks such as Ethereum, Binance Smart Chain, Polygon, Avalanche, as well as EVM-compatible networks and L2 solutions.

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In the near term, the team plans to add other networks, primarily Bitcoin, Solana and Terra.

According to the developers of Symbiosis Finance, the protocol’s architecture uses an automated market maker (AMM) pool model, designed to avoid the need to pair all available assets with the protocol’s native token.

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Symbiosis Finance’s cross-chain routing provides the best exchange rate for the end user and ensures high efficiency for liquidity providers.

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Earlier ForkLog reported that the Hong Kong-based blockchain gaming provider Animoca Brands raised financing of $65 million. The company’s reached $2.2 billion.

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