Jumbo Raises $3.5M to Deliver Its Decentralized Exchange Ecosystem to the NEAR Protocol

LONDON, Jan. 10, 2023 /PRNewswire/ -- 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.

"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.

"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."

Jumbo has big plans for 2023, including smart route trading, staking, and more to come in the first quarter of the year. For more information about Jumbo and its upcoming plans, visit https://jumbo.exchange/.

About Jumbo

Jumbo is an AMM-powered decentralized exchange based on the NEAR Protocol that offers a cheap, seamless, and unfettered way for anyone to trade. Since its inception in 2021, Jumbo has recorded more than $19.5 in total value locked (TVL), $745 million in cumulative volume, and has a user base of more than 20,000 unique wallets. More information can be found at https://jumbo.exchange/.

SOURCE Jumbo Exchange