Backed by many prominent investors, it has raised its seed raising round.
Waggle Network, a cross-chain protocol specializing in unlocking liquidity for post-IDO tokens has raised $3 million with the backing of many prominent investors like AU21, Basics Capital, Bixin Ventures, Gate.io labs, GBV, Genesis Block Capital, HG Ventures, MEXC, NGC, Spark Digital, and SVC. According to sources, there are a few strategic partners who have joined which include Occam, Poolz finance, and Solanium. The main objective is to guide projects and help them foster a multichain approach. Furthermore, Waggle has also announced a few media partners who will associate themselves with its project, namely Bigcoin Vietnam and Bitcoin Addict.
By associating with Waggle, each investor and partner can open up to vast opportunities that exist around the space by taking a cue from thousands of portfolio projects and by following industry experts hovering around the Web 3.0 sphere. Waggle's team has deep knowledge about DeFi and helps projects who fail to find better options that help them raise funds after their IDO. Many projects raise funds via OTC deals with institutional partners where they have to compromise and follow certain terms which don't work well in the long run, resulting in the project's failure. Tying up with Waggle eradicates these issues to a great extent.
The platform was always aware of these rising issues and in a bid to help the community laid forth their plans which have benefited many projects till date. Waggle helps in bridging market inefficiencies while facilitating fundraising through the project's own community. In addition, Waggle is not just unlocking liquidity for projects, but also brings deals that were previously exclusive to institutional investors to its community. Genblock Capital who are aware of these difficulties have joined hands with Waggle to support their initiatives, especially in building protocols and tools needed by project founders to access capital from their illiquid vested tokens. With this collaboration, new sources of funding for early-stage projects will open up along with widening access to exclusive private sales for the retail community.
The blockchain and DeFi world should definitely work closely with Waggle and stay updated about the upcoming programs that can help enhance a projects' viability in the market.