🚀 Crypto New Modular Blockchain Blackwing Raises $4.5 Million to Build Liquidation-Free Trading

[Gr@c3]

[PRESS RELEASE – New York, United States, March 7th, 2024]

Blackwing has completed a $4.5 million funding round led by Hashed and Gumi Cryptos. The investment is for the development of the first modular layer 2 blockchain designed for liquidation-free leveraged trading for any asset. The blockchain uses an innovative approach called Limitless Pools, enabling users to trade with borrowed funds without facing forced liquidations.

Pioneering the frontiers of modular chain infrastructure, Blackwing is built on the foundation provided by Initia, enabling seamless trading across any modular app chain while upholding the principles of decentralization. Once traders place funds on Blackwing, they can trade on assets from any modular app chain without transferring funds across different networks, presenting significant cost savings and additional security.

Both founders, Shahmeer Navid, and Zorayr Khalapyan, bring years of experience from Robinhood and Meta, highlighting the capability of the team to take such a momentous endeavor and push the boundaries of the modular blockchain ecosystem.

Blackwing’s lead investor, Baek Kim, partner 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 offer a novel solution for liquidation-free leverage trading. By converting liquidity provider positions into collateral, the platform ensures that the original position used for trading on borrowed funds can be recreated, irrespective of asset price movements. With this new construct, liquidity providers benefit from earning more fees, and traders benefit from safer leverage.

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

The platform’s modular architecture represents a shift from traditional monolithic chains to a more decentralized ecosystem of app chains. This model simplifies network operations and enhances efficiency, allowing cross-chain asset trading without 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.”

Additionally, Blackwing introduces an intent-solver architecture that abstracts execution complexities, focusing on fulfilling traders’ intents. This model aims to simplify the trading process, allowing users to concentrate on their investment objectives.

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About Blackwing​

Blackwing is the modular blockchain for liquidation-free leverage trading for any asset. By harnessing technological advancements and fostering a collaborative ecosystem, Blackwing seeks to redefine the trading landscape for digital assets.

Contact​

Co-Founder
Zorayr Khalapyan
[email protected]

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