Tinyman is pleased to announce the conclusion of its seed funding round of $2.5M led by Borderless Capital with the participation of DCG, Arrington Capital, Genesis, The LAO, and many more. It was thrilling to receive such interest, we are honored to have such a strong list of supporters and backers and we owe this privilege to our community for supporting the Tinyman platform and actively being a part of the project in every step of the product development.
Leading the FutureFi
Borderless Capital is a modern financial institution investing capital and building financial products that accelerate access, bootstrap adoption, and create value globally through the Algorand borderless economy.
As part of their strategy to reinforce the Algorand DeFi ecosystem, Tinyman’s Automated Market Maker (AMM) protocol will look to constitute a strategic part of their DeFi investments in Algorand. AMMs are considered to be one of the building blocks in the blockchain space and have now reached a whopping 90bn$ total locked value (TLV) across all platforms on different chains. Until the introduction of Tinyman, Algorand was missing this integral part of its DeFi picture and Tinyman is looking forward to filling this missing piece of the puzzle.
Seed Investors Group
Tinyman was met with invigorating demand from many investors across various sectors and technological involvements. We consider this variety and distinctive expertises to be of strategic strength for the platform which will provide additional thrust in the days to come.
Here is the list of organizations that took part in this seed round:
Arrington XRP Capital, The LAO, DCG, Genesis Capital, BlockTower Capital, GoldenTree Asset Management, Pillar VC, Yuobi Capital, Kosmos Ventures, Polybius Capital, Meld Capital, Spark Digital Capital, Eterna Capital, Cluster VC, G1 Ventures
Since the introduction of the mere notion of building an AMM on Algorand, Tinyman team kept on growing in size as well, welcoming new friends on board with different skills. As a team with a particular history of building products, we realize the significance of being able to count on people with the necessary skills as well as much-needed enthusiasm for blockchain technologies. To lay the foundations of a truly decentralized platform, sustainable growth calls for the need for a solid team, and in Tinyman’s case addition of new team members from the professional space or the Tinyman’s beloved community. The funds secured in the seed round will aid towards maintaining the Tinyman team’s concentrated efforts and in the future growing comfortably in areas needed.
AMM platforms account for two types of strategic players on its core: traders and liquidity providers. One cannot exist without the other and both parties look to be benefiting from opposite sides of the trade as they would be selling/buying against each other all the time. One additional factor for the provision of decent trading opportunities in AMMs is the depth of the liquidity present. The mathematical foundations of the platform reveal the exigency for larger pools to be able to offer more stable prices and embrace more demand from the traders.
For these purposes, Tinyman and the investors have agreed to allocate additional funds to be used in the provision of liquidity pools on the investors’ part, who will become direct liquidity providers in the platform. Each investor will add a liquidity of 5 times the seed investment amount, which will totally be controlled and decided upon by these investors who will become their own personas in the platform, all the while Tinyman platform will still only be acting as an impartial AMM infrastructure welcoming all liquidity providers and players. This step would ensure to provide the ignition the platform should offer to traders who will be met with some properly deepened pools even at earlier stages.
It is paramount to understand that as a decentralized AMM, Tinyman will have no control or say over these funds. We are rooting for the inclusion of all who have an interest in managing their own finances and that is invested in the idea of being able to swap their assets on the blockchain with minimal fees accrued and swift transactions.
Community Spurs Future Growth
A pillar part of Tinyman’s journey is its community. We commit to becoming a truly decentralized platform that would be governed by its community who we consider to be the main stakeholders of the project. Our roadmap is designed to keep the community alive and growing by calling upon the people in the blockchain ecosystem who we hope would wish to “opt-in” for a smoother platform with minimal fees and fast transactions. Some of our seed funding will be allocated to keep the community growth alive and account for possible efforts and expenditures.