DeFi Protocol iZUMi Finance Raises $30M and Launches Exchange

iZUMI Finance, a multichan DeFi platform, has raised $30 million through the sale of bond vouchers and claims on its iZUMi Bond USD (iUSD). The new funding included $20 million from institutional investors IV Ventures, Cobo and Mirana, among others. More than half of that total came from a voucher sale on the bond-focused Solv Protocol. iZUMi also sold $4 million $BUSD worth of the vouchers and an additional 5,000 in $BNB, which is equivalent to about $2 million. Along with the funding, iZUMi announced its new iZiSwap decentralized exchange (DEX), which employs a novel automated market maker (AMM) protocol and the iUSD token. The iUSD token is 1:1 pegged to the U.S. dollar, akin to a stablecoin, and it's backed by iZUMi’s collateral and future revenue.