Full-service investment company Genesis Block Ventures (GBV) announces an investment in Solana-powered stable asset DeFi platform Mercurial Finance. Genesis Block Ventures would accelerate the development of Mercurial to enable a wider community of investors to swap and invest in stable assets.
As the first dynamic vault platform for stable assets, Mercurial Finance aims to be the easiest place for users to swap and invest in stable assets on Solana. Mercurial will offer advanced features such as low slippage swaps, lending, flash loans, and external yield farming to optimise returns for users. It is starting with a vault for USDC, USDT, wUSDC and wDAI, facilitating low slippage swaps with dynamic fees.
Mercurial Finance has completed a financing round. Genesis Block Ventures participated in the round, along with other institutional investors such as Alameda Research, Solana Eco Fund, OKEx, and Huobi Global. Other angel investors of Mercurial include Edward Moncada, founder of Blockfolio, TM Lee and Bobby Ong, co-founders of CoinGecko, Darren Lau, The Spartan Group’s Senior Analyst, and Alex Svanevik, CEO of Nansen.
Mercurial will also collaborate with the Ethereum token swap platform Kyber Network to ensure interoperability between the Ethereum ecosystem and Solana ecosystem.
Mercurial has its initial exchange offering (IEO) successfully launched on crypto derivatives exchange FTX on 9 PM SGT, May 13th. Additionally, Mercurial has launched an initial DEX offering (IDO) on Raydium’s AcceleRaytor on May 19th.
Mercurial Finance — Dynamic Vaults For Stables
At Genesis Block Ventures, our mission from day one has been to build the future through blockchain technology. We have invested in some of the most prominent blockchain startups, such as Serum, Maps.me, Bonfida, Alpha Finance, AstroTools, SuperFarm, among others, making sure that these projects achieve success through strategic partnerships and guidance.
The Mercurial team impresses us with their deep understanding of the crypto market needs and their ability to innovate nimbly to meet them. With Mercurial Vaults, users will be able to enjoy low slippage swaps for stable pairs and forex pairs, as well as dynamic fees that leverage market conditions to improve profits, maximizing capital utilization. Also, users continue to accrue benefits from the platform, such as fees from swaps, commission from yield farms, via the MER token, which can be leveraged as collateral for synthetic stables like mUSD or mBTC.
““The Mercurial team’s deep expertise and wide breadth of experience make them a bold and visionary leader in the blockchain and crypto space. We congratulate them on their exciting new direction and look forward to many more innovations they bring to the DeFi space!” — Genesis Block Ventures’ co-founder and partner Leslie Tam.
We share the same vision with Mercurial that stablecoins represent a major part of the DeFi demand across synthetic assets creation, swapping, and lending. Robust availability of stablecoin liquidity is crucial to the crypto and DeFi space as a whole. With the investment, we are excited to participate in the journey to accelerate the growth potential of the Solana DeFi ecosystem!
About Mercurial Finance
Mercurial Finance is building DeFi’s first dynamic vaults for stable assets on Solana, providing the technical tools for users to easily deposit, swap and mint stable assets.
Mercurial offers users with market-making vaults providing low slippage swaps for stables, while also improving liquidity providers (LPs) profits with dynamic fees and flexible capital allocation.
About Genesis Block Ventures
Genesis Block Ventures (GBV) is a full-service investment company closely working with Genesis Block HK, Asia’s leading digital asset over-the-counter (OTC) trading center.
As a private investment company with a mission of building the future through blockchain technology, Genesis Block Ventures is an active participant in the DeFi revolution, and has grown a thriving network to form an effective ecosystem for all aspects of blockchain, crypto, and DeFi projects.