ICON Foundation joins hands with Wintermute to enhance cross-chain liquidity and interoperability. Established in 2017, ICON Foundation is focused on developing the ICON Project that is a Blockchain-based protocol for the operation of decentralized applications. The aggregator chain of ICON works on the maintenance of interoperability by creating an interconnection of networks by aggregating Blockchain data into a single layer. Associated with more than 150 validators, the network of ICON Foundation is accessible in more than 35 countries. The native crypto token of ICON, ICX, is accessible across thirty exchange platforms that include Bithumb, Kraken, Binance, and more.
Wintermute is renowned worldwide for providing liquidity to over 3000 cryptocurrency pairs of decentralized, AMM, and centralized pools. It is the foremost market maker of cryptocurrency assets across the globe. As the supporting platform for the development of several Blockchain projects, Wintermute contributes to managing assets worth millions. As of late, Wintermute has secured around $20 million or more in Series B from Pantera Capital, Lightspeed Ventures, and more.
In the year 2020, the trading volume of Wintermute surpassed $70 billion, while in 2021, the daily transaction volume increased to more than $4 billion. According to the agreement, Wintermute is going to be the official market-making partner of the ICON Foundation. The platform of Wintermute shall provide liquidity to the ICX pairs at the new listings and existing exchanges and the De-Fi ecosystem.
Min Kim, one of the council members of the ICON Foundation, said that the strategic partnership with Wintermute would encourage the mass adoption of ICX and improve the ICON Project’s liquidity. Wintermute is also looking forward to being a part of the team of the ICON Foundation. The international market maker is also thrilled about creating more efficient and liquid markets for decentralized and centralized trading platforms.