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Impossible Finance Names OpenSwap as First Project for DeFi Launchpad
The OpenSwap platform allows users to access liquidity pools from different blockchains.
Impossible Finance, the decentralized finance (DeFi) incubator that raised $7 million in June, named OpenSwap as the first project to be featured on its DeFi launchpad.
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- OpenSwap provides DeFi traders with a single location for accessing liquidity pools from multiple blockchains.
- Calvin Chu, Impossible Finance's core builder, described the platform as a "godsend" thanks to its aggregation facilities.
- Impossible Finance's seed funding round in June was led by institutional investors including CMS Holdings and Alameda Research.
- The protocol launched on Binance Smart Chain in May with the goals of building a network for staking, token swaps and access to liquidity pools as well as becoming an incubator for other projects.
Read more: Money Reimagined: Can DeFi Stay Decentralized?
Jamie Crawley
Jamie has been part of CoinDesk's news team since February 2021, focusing on breaking news, Bitcoin tech and protocols and crypto VC. He holds BTC, ETH and DOGE.
