Hashflow expands DeFi ecosystem with large market maker Wintermute

Rick Steves

The goal of partnering with an increasing number of market-makers is that these offer quotes rather than relying on a bonding curve. That way, Hashflow users are provided with better and more consistent pricing.

Hashflow has added algorithmic market maker Wintermute to its DeFi ecosystem, following a $25 million funding round bringing the DeFi trading platform’s valuation to $400 million.

Wintermute has cumulative trading volumes of more than $1.9 trillion to its name, which makes it a quite valuable addition to Hashflow’s network in terms of liquidity and market efficiency as the firm continues to expand its market maker ecosystem. Wintermute facilitates OTC trading, both spot and derivative, and provides liquidity across centralized and decentralized exchanges.

Hashflow was founded in San Francisco in 2021 and connects professional market makers to traders using a novel request-for-quote (RFQ) model.

The goal of partnering with an increasing number of market-makers is that these offer quotes rather than relying on a bonding curve. That way, Hashflow users are provided with better and more consistent pricing.

The firm explained that the RFQ model also prevents sandwich attacks, front-running, and other MEV exploits while also enabling a seamless, native, cross-chain experience.

Varun Kumar, co-founder of Hashflow, said: “Wintermute’s venture arm has championed Hashflow’s mission from day one as a key investor in our seed and Series A funding rounds. Thanks to support from Wintermute and other early investors, our team has built a new standard in DeFi trading. Now, with Wintermute’s support on market-making, Hashflow users can trade across chains with guaranteed price execution and full MEV-resistance. Wintermute enhances our platform capabilities and positions us to keep offering better solutions, including scaling liquidity to allow users to execute larger trades.”

Evgeny Gaevoy, founder and CEO of Wintermute, commented: “There is massive opportunity within the Hashflow ecosystem, and we are excited to provide liquidity and market make on Hashflow. Furthermore, as investors in Hashflow, we are big believers in what the team is building. Wintermute is committed to doing everything we can to support Hashflow on its impressive growth journey.”

Wintermute authorized to mint and burn USDD stablecoin

Founded in 2017, Wintermute is a crypto-native market maker focused on creating liquid, transparent markets through hundreds of proprietary trading algorithms across DeFi, CeFi, and OTC markets.

The firm has recently been welcomed by the TRON Reserve DAO as the ninth member and whitelisted institution to mint Tron network’s stablecoin, Decentralized USD (USDD).

This nomination lists Wintermute as an approved reserve contributor, granting them the right to strike and the right to burn USDD. As a member and whitelisted institution, Wintermute will also serve as an advisor and make recommendations to improve the USDD Network. They will attend and be fully engaged in all meetings of Reserve members.

The TRON DAO Reserve said that onboarding a crypto giant like Wintermute helps support the global blockchain industry, prevent panic trading caused by extreme market volatility, and mitigate long-term economic downturns.

As crypto prices nosedived and investors grew concerned about persistently high inflation, the TDR is dedicating resources to preserve the stability of the USDD ecosystem.

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