Jumbo, a leading decentralized exchange built on the NEAR Protocol, is proud to announce the successful completion of a $3.5 million fundraising round led by Pantera and Huobi Incubator, with additional funding from DWEB3, D21 Ventures, Metaweb Ventures, Fundamental Labs, Proximity, and Genblock Capital.
The funds contributed to developing the user-friendly design and feature offerings that have positioned Jumbo as one of the largest DEXs on NEAR since its establishment in late 2021. Jumbo Exchange also employs HAPI, a novel security system that uses know-your-transaction (KYT) technology to ensure safety and security of users.
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“Thanks to the trust of investors, Jumbo is delivering a user-friendly exchange experience that is rapidly developing, keeping pace with market demands and with the NEAR ecosystem,” said Alex Dyatlenko, CEO of Jumbo.
Jumbo prides itself on providing a highly intuitive user experience for DeFi users, with instantaneous swaps, high yields and seamless pool transition, and permissionless liquidity pools for liquidity providers. So far, the exchange has garnered $19.5 in total value locked (TVL), $745 million in cumulative volume, and has a user base consisting of more than 20,000 unique wallets.
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“Our goal remains to serve the DeFi community with the most intuitive experience possible,” said Alex Dyatlenko, CEO of Jumbo. “And because the NEAR ecosystem is still in its infancy, we at Jumbo are doing everything we can to propel it toward mainstream adoption with this easy gateway to the NEAR space. To that end, we are attracting new and new investments as we develop the product.”
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