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Chainflip Raises $6 Mln Funding Led By Framework Ventures.

A decentralized automated market maker-based protocol, Chainflip, closed a $6 Mln funding round led by Framework Ventures.

Other participating investors embody ParaFi Capital, Distributed Global, Delphi Digital, Hypersphere Ventures, Coinbase Ventures, DeFi Alliance, Altonomy, Maven 11, Edenblock as well as Morningstar Ventures.

Founded earlier last year, Chainflip permits swaps between different blockchains. The protocol is supported by Chainflip’s token, FLIP.

The funds will go toward Chainflip’s community development and user support, and to form “additional progress around security audits, external communication campaigns,” it outlined.

They will even be used to build internal operations while expanding Chainflip’s products and team, CEO Simon Harman explained.

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