New Modular Blockchain Blackwing Raises $4.5M to Build Liquidation-Free Trading

New York, United States, March seventh, 2024, Chainwire

Blackwing has accomplished a $4.5 million funding spherical led by Hashed and Gumi Cryptos. The funding is for the event of the primary modular layer 2 blockchain designed for liquidation-free leveraged buying and selling for any asset. The blockchain makes use of an modern strategy referred to as Limitless Pools, enabling customers to commerce with borrowed funds with out dealing with compelled liquidations.

Pioneering the frontiers of modular chain infrastructure, Blackwing is constructed on the muse supplied by Initia, enabling seamless buying and selling throughout any modular app chain whereas upholding the rules of decentralization. As soon as merchants place funds on Blackwing, they’ll commerce on belongings from any modular app chain with out transferring funds throughout completely different networks, presenting important price financial savings and extra safety. 

Each founders, Shahmeer Navid, and Zorayr Khalapyan, deliver years of expertise from Robinhood and Meta, highlighting the potential of the crew to take such a momentous endeavor and push the boundaries of the modular blockchain ecosystem.

Blackwing’s lead investor, Baek Kim, associate at Hashed VC, states: “Giving traders the ability to trade any asset from any chain with leverage without the fear of liquidation is a major step forward in DeFi and is a significant improvement in product experience, security, and costs for traders.” 

Blackwing’s Limitless Pools provide a novel answer for liquidation-free leverage buying and selling. By changing liquidity supplier positions into collateral, the platform ensures that the unique place used for buying and selling on borrowed funds could be recreated, no matter asset worth actions. With this new assemble, liquidity suppliers profit from incomes extra charges, and merchants profit from safer leverage.

Miko Matsumura, managing associate at gumi Cryptos Capital, mentioned: “This is a profoundly exciting new mechanism. This team has created a breakthrough model that is ultimately trader-friendly.”

The platform’s modular structure represents a shift from conventional monolithic chains to a extra decentralized ecosystem of app chains. This mannequin simplifies community operations and enhances effectivity, permitting cross-chain asset buying and selling with out new wallets or bridges.

Co-founder, Shahmeer, states: “Across the web3 ecosystem, we’re on a precipice of change with the introduction of modular chains. Instead of single, large monolithic chains dominating the ecosystem, we will see a Cambrian explosion of highly-specialized and scalable interwoven app chains that all work together to onboard the next generation of traders.”

Moreover, Blackwing introduces an intent-solver architecture that abstracts execution complexities, specializing in fulfilling merchants’ intents. This mannequin goals to simplify the buying and selling course of, permitting customers to consider their funding goals.

About Blackwing

Blackwing is the modular blockchain for liquidation-free leverage buying and selling for any asset. By harnessing technological developments and fostering a collaborative ecosystem, Blackwing seeks to redefine the buying and selling panorama for digital belongings.

Zorayr Khalapyan
[email protected]

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