iZUMi Finance (IZI) rebounded in the market with funds, sale of bond coupons and new iZiSwap news. Metaverse altcoin project Sandbox (SAND) continues to expand in South America with the acquisition of Cualit.
DeFi altcoin iZUMi Finance received $30M investment
Kriptokoin.com , as we reported on Friday, multi-chain said iZUMi Finance, a decentralized finance (DeFi) platform, has raised $30 million through the sale of bond coupons and receivables on iZUMi Bond USD (iUSD).
Singapore-based iZUMi Finance offers liquidity services or the opportunity to convert an asset into cash or another asset. According to DefiLlama data, the platform is deployed on Ethereum, BNB Chain, Polygon and Arbitrum Blockchains and has a total locked value (TVL) of approximately $58 million.
Alongside financing, iZUMi has announced a new automated market maker (AMM) protocol and the new iZiSwap decentralized exchange (DEX) using the iUSD token. iZUMi co-founder Jimmy Yin said in a press release:
Liquidity is the catalyst for growth in DeFi. With the launch of Discrete Liquidity AMM and iUSD, iZUMi Finance removes barriers to liquidity and makes DeFi more attractive and efficient for market participants.
Sandbox acquires Uruguayan tech firm
Animoca Brands subsidiary The Sandbox, Uruguayan tech company Cualit that aims to accelerate the advancement of the Web3 ecosystem and Blockchain industry bought the . Shortly after the deal was announced, the altcoin price rose by about 12%. However, at the time of writing, SAND has rebounded its gains, falling to $1.26.
Both parties pledged to join forces and develop an infrastructure that can foster innovations in the Web3 and Blockchain universe. Prior to the deal, The Sandbox worked closely with Cualit and its co-founders, the Perez brothers, for over a year. After signing the agreement, the name of the South American organization was changed to The Sandbox Uruguay.
Cualit has been deeply involved in the Blockchain industry for the past ten years. He has technologically assisted many companies and projects in Uruguay and lobbied for the digital transformation of the nation. As a rebranded entity, its main focus will shift to supporting The Sandbox’s efforts.
