According to official sources, market maker agreement Swaap is about to be launched on the Arbitrum network.Earlier in April, Swaap announced the completion of a $4.5 million seed round financing, led by Signature Ventures, with participation from New Form Capital, C²Ventures, Kima Ventures, Pareto Ventures, Entrepreneur First, as well as angel investors Julien Bouteloup (Stake Capital), Pascal Gauthier (Ledger CEO), Richard Ma, Meltem Demirors (Coinshares CSO), Frederic Montagnon (Arianee co-founder) and Thibaud Elzière (eFounders CEO).
It is reported that Swaap aims to build the next generation of market-making protocols, which use a combination of oracles and dynamic spreads to achieve sustainable returns and reduce transaction costs.