Cyclos takes $ 2.1 million to build concentrated liquidity Amm on Solana

cyclos will concentrate on offering defi dealers concentrated liquidity.

cyclos drives to Solana.

cyclos concludes financing round over $ 2.1 million

cyclos, a new defi project based in Solana, has collected a total of $ 2.1 million from a private and a public round. The financing is used to create the first automated market maker (AMM) with concentrated liquidity on Solana, which enables a variety of functions that have never been seen before in the ecosystem of the blockchain.

Well -known investors such as CMS Holdings, Hashkey, Solana Capital, Huobi Voin98 Ventures, MXC, Gate.io, Skyvision Capital, Petrock Capital, Illusionist Group, Cryptomeria Capital, Digistrats and Youbi Capital took part.

cyclos offers a unique interpretation of the idea of ​​concentrated liquidity, which was developed by Uniswap V3. By using Solana and his blockchain with low latency and high throughput, it is possible to create concentrated liquidity, which is bound to serum, an order book -based decentralized stock exchange. This offers all the advantages for the capital efficiency that are owned by concentrated liquidity with a few disadvantages.

The funds bound to Cyclos are used to provide liquidity for serum dex in accordance with the bandwidths specified by the LPS. The use of serum means that no boat trap of volume and initial liquidity for the AMM pool is required, which reduces the risk of temporary loss for new couples and a certain income is immediately guaranteed to the liquidity providers. Cyclos is particularly useful for stable coin pairs that make it possible to make markets without the use of algorithms. In addition, Cyclos enables new functions such as Range-Orders and Stopless/Limit Order, the first for Solana Amm. Jason O’Brien, a Cyclos spokesman, said about the future plans of the project:

"We are pleased to fully start the Cyclos trip with the strong support that we have received. Cyclos introduces a variety of functions in Defi on Solana, which were not previously possible with the existing infrastructure. Cyclos approach to concentrate the assets of liquidity providers possible. ”

Dan Matuszewskim, partner at CMS, added that Cyclos was in a strong position to be successful with Solana. He said:

"CMS is pleased to support Cyclos in her mission, to bring Solana concentrated liquidity. The growing Solana user basis has increased the demand for a first-class AMM experience. The team is strong and well positioned in order to have a significant impact on the further development of the defi ecosystem of Solana."

cyclos is the first market maker for concentrated liquidity on Solana. It enables liquidity providers to maximize the return potential of your assets by placing individualized price curves directly in the order books of Serum. The V1 of the product should come onto the market in the third quarter of 2021.