Ammalgam closed $2.5M Seed round

Ammalgam, a decentralized finance (DeFi) company, raised $2.5 million in a seed funding round. The round was co-led by Lightspeed Faction and Framework Ventures, with participation from Robot Ventures, Bodhi Ventures, NGC Ventures, DeWhales, and Blockchain Founders Fund. Angel investors including Kain Warwick, Anton Bukov, Spencer Noon, and Jordi Alexander also participated in the funding.

Ammalgam is developing a Decentralized Lending Exchange (DLEX) protocol that combines lending and trading into a single system. The company aims to enhance capital efficiency and provide higher yields for users by utilizing idle assets. The DLEX protocol is designed to support both advanced users and passive liquidity providers by offering various trading strategies and ensuring a permissionless, oracle-free platform. Ammalgam plans to use the new capital to expand its team, further develop its product, conduct audits, and invest in go-to-market strategies.