Wintermute Announces $20M Fund To Bootstrap Polygon Dapp Development

The first funded project is Router Protocol, a crosschain messaging protocol that aims to build infrastructure enabling seamless communication between various blockchains.

Wintermute, a leading digital asset market maker, and Polygon, an Ethereum scaling platform onboarding millions to the Web3, have today announced a strategic partnership to grow the Polygon ecosystem. Wintermute is launching a $20 million fund as part of this initiative.

The fund aims to support innovative projects utilizing Polygon’s blockchain network to bolster growth and innovation within the Polygon thriving ecosystem of decentralized applications (dapps). As well as funding, Wintermute will facilitate development support, liquidity provision, support for exchange listings, and advice on business strategy.

Wintermute was an early investor in a number of active projects on Polygon, and has been operating on Polygon since early 2021, trading over $500 million a month across its multiple decentralized exchanges (DEXs). In addition to procuring financial backing for early-stage projects, Wintermute will provide support by co-developing, integrating with protocols, and providing liquidity for the protocols’ native tokens. Wintermute is already in conversations with several Polygon projects. 

“This partnership is a natural progression for our relationship with Polygon,” said Evgeny Gaevoy, CEO of Wintermute. “This program is well-aligned with our dedicated effort to integrate with the most promising protocols on Polygon.

“Being exclusive market makers for dozens of coins, we operate very closely within the blockchain ecosystem. We see a lot of exciting new projects on Polygon that we will be proud to support,” Gaevoy added. 

Polygon is home to multiple DeFi bluechip dapps, including Sushiswap, Curve, Aave, Balancer, and Kyber. The network also hosts the majority of today’s biggest Web 3.0 games and NFT projects, including Decentraland, Opensea, Sandbox, Somnium Space, Decentral Games. 

Arjun Kalsy, VP Growth at Polygon, said: “Polygon has become the de-facto platform for Web 3 development, and we want to ensure that we create the best enablers for entrepreneurs looking to build web3 businesses. Along with Wintermute, we’re aiming our fund at innovative developers who can leverage Polygon’s scale to open doors to millions of potential users. What those users get is access to Polygon’s low-cost & high-performance infrastructure while benefiting from the security, fundamentals, and decentralization offered by the Ethereum network.”

The first project to receive funding is Router Protocol. Router is building foundational infrastructure that enables various EVM and non-EVM chains to communicate with each other. Cross-blockchain communication will significantly enhance capital efficiency by unlocking capital flows across multiple blockchains and opening up a whole new range of multi-chain dapps.

Ramani Ramachandran, CEO of Router Protocol, said: “We have had a long-standing association with Polygon; Router was the first protocol on any chain to offer instant, gasless trading — taking advantage of Polygon’s speed and low transaction costs. Now, we’re excited to have both Polygon and Wintermute as investors in Router’s current round as we build out critical cross-chain communication infrastructure, which is launching first between Polygon and Ethereum before expanding to other chains.”

If you're an Ethereum Developer, you're already a Polygon developer! Leverage Polygon’s fast and secure txns for your Dapp, get started here.

Website | Twitter | Ecosystem Twitter | Developer Twitter | Enterprise Twitter | Studios Twitter | Telegram | Reddit | Discord | Instagram | Facebook | LinkedIn

About Wintermute

Wintermute is a leading global algorithmic trading firm in digital assets. Wintermute provides liquidity algorithmically across over 50 centralised and decentralised exchanges and facilitates OTC trading for over 200 tokens. Being a very active player in the ecosystem, the company supports a number of high-profile blockchain projects. At Wintermute, we believe in decentralization of finance. We are convinced that trading companies of the future are technology companies, not financial services providers.

Wintermute was founded in 2017 and is backed by Lightspeed, Pantera Capital, Sino Global Capital, Blockchain.com Ventures, Avon Ventures by Fidelity Investments, DeFi Alliance and other top tier investors.

About Router Protocol

Router Protocol - Router is building foundational infrastructure that enables various L1/L2, EVM and non-EVM chains to communicate with each other. Cross blockchain communication will significantly enhance capital efficiency by unlocking capital flows across multiple blockchains, and opens up a whole new range of multi chain Dapps across trading, lending, governance etc across both fungible tokens as well as NFTs.

More from the Polygon Blog
Introducing Plonky2

Polygon Zero’s mission is simple: to use zero-knowledge proofs to scale Ethereum to a billion users, without compromising decentralization or security. Achieving this requires fast and efficient proof systems. Today, we’re excited to share Plonky2, a major milestone for zero-knowledge cryptography. Plonky2 is a recursive SNARK that is 100x faster than existing alternatives and natively […]

Read More
Polygon Takes A Major Lead In ZK Rollups; Welcomes Mir, A Groundbreaking ZK Startup In A $400M Deal

TL;DR: We are excited to announce that Mir, a startup building groundbreaking ZK tech, is joining the Polygon family in a $400M* deal. Mir gathered a team of talented cryptographers and engineers, and after almost two years of work developed the world’s fastest ZK scaling technology. The Mir team is now joining Polygon in order […]

Read More
Polygon Announces Polygon Miden - A STARK-Based, Ethereum-Compatible Rollup

TL;DR: We are excited to announce the newest member of the Polygon solution suite - Polygon Miden, an upcoming STARK-based, EVM-compatible rollup. The project is led by Bobbin Threadbare, former Facebook’s core ZK researcher who led the development of Winterfell. Today we are releasing Polygon Miden’s core component - Miden VM, the first open-source STARK-based […]

Read More
Why Web3 Developers Are Choosing Polygon Over Other Solutions 

When it comes to deploying on Ethereum, there is only one place that lets developers easily migrate their projects, offers a broad range of scaling options and has some of the industry’s lowest transaction rates. These are just some of the reasons why the number of teams using Polygon jumped 100-fold in the past year. […]

Read More
Polygon’s Breakthrough Year: 2021 in Review

Welcome to 2022! This is shaping up to be another amazing year for the Polygon ecosystem. But after an absolutely breakthrough 2021, it's got big shoes to fill. Over the past year, Polygon made big strides toward accomplishing its mission of bringing the next billion users to Ethereum. The network’s low-fee infrastructure attracted some of […]

Read More
All You Need to Know About the Recent Network Upgrade

Earlier this month, Polygon’s core development team with help from bug bounty  platform Immunefi successfully fixed a critical network vulnerability. Considering the nature of this upgrade, it had to be executed without attracting too much attention. We are now ready to give the full account of what happened. A group of whitehat hackers notified Immunefi, […]

Read More
crossmenuchevron-down-circle