Announcement of Seed Round led by Robot Ventures, Arrington Capital and ParaFi & latest updates
After Uni V3 was announced in spring 2021, we came up with the idea of developing a permissionless liquidity rebalancing protocol. We started with our research on how to effectively manage the liquidity on Uni V3 and then expanded to a cross-protocol permissionless protocol vision.
As the Protocol is launching soon, we want to share our current progress, upcoming milestones, and of course, the details about our seed round.
Recap
We were working in a semi-stealth mode, and right now, as we are close to releasing our Protocol, we want to showcase a short recap of what we have achieved so far.
Product
- Permissionless vaults platform — our main effort and the core of the product
- First strategy contract
- Documentation for developers/strategists
- Performed internal tests with L2 live deployments
Research
- Backtesting SDK — we used it internally while developing the strategies and open-sourced it to the public recently
- Strategies — we designed effective strategies that can be deployed on the platform for multiple token pairs
- Data infrastructure — we built a robust infrastructure to enable researchers to get access to on-chain data while working on strategies rapidly
UI
- The user interface is ready for production deployment
Team
- Hired core team and contractors — our core team expanded to 12 people and we’re looking for new passionate Web3 contributors
Audits
- Completed audit with ChainSecurity
- Completed audit with BlockSec
- Completed Cod34r3n4 audit competition
Content & Community
- Released articles about LPing on UniV3, our Vaults system architecture, VMF strategy, and our backtesting SDK
- Launched Discord community
Seed round
In August 2021, Mellow Protocol closed a $2.75 million seed round led by Robot Ventures, Arrington Capital, and ParaFi.
Also, we’re super excited to see among our backers valuable funds, builders and community members:
- P2P Capital
- Lemniscap
- Focus Labs
- Principle Ventures
- Primitive Ventures
- NEMO Ventures (the friendly apes behind DegenScore)
- Darren Lau (The Daily Ape, Not3Lau Capital)
- Daryl Lau (Not3Lau Capital)
- Santiago R Santos (#9159)
- Jamis Johnson (PleasrDAO)
- Igor Barinov (Blockscout/xDai chain)
- Ivangbi (Gearbox & LobsterDAO)
- Yearn сore contributor
- Mariano Conti (ex-MakerDAO)
- Molly (eGirl capital)
- Shadowy super coders who want to stay anonymous
The community already gives us a lot of valuable feedback and wise advice. The goal of the current funding round is to develop and bootstrap the Protocol.
Protocol launch
Our primary focus is to get live – we’re working on final preparations before the launch.
Next steps:
- UI deployment
- Guarded launch of the Protocol and initial strategies in Mainnet
- Integrations & L2 deployments
- Strategist UI
- V2 design
As we’re going to be live soon — keep an eye on our media and don’t miss the official launch announcement👀
