Mayan Raises $3M Led by 6MV and Borderless, to Bring Trust, Low Cost and Speed to Cross-Chain Trading
[PRESS RELEASE – Istanbul, Turkey, April 11th, 2024]
Mayan’s innovative auction protocol attracts support from leading builders Anatoly Yakovenko, co-founder of Solana, Saeed Badreg, co-founder of Wormhole and more
Mayan, the pioneer in auction-based cross-chain swaps, announced today the successful closure of a $3 million Seed Round co-led by 6th Man Ventures (6MV) and Borderless Capital. Notable participants in the round include Solana Ventures, Hash3, Big Brain Holdings, Arrington Capital, and Wormhole Cross-Chain Ecosystem Fund as well as notable angels including Anatoly Yakovenko, co-founder of Solana and Saeed Badreg, co-founder of Wormhole Labs. This funding milestone will fuel Mayan’s mission to optimize the web3 trading experience by addressing the critical issues of transparency, speed and cost in the cross-chain user journey.
“Ultimately, I envision Mayan evolving into a fully permissionless venue for trading any kind of crypto assets, whether Fungible Tokens or NFTs. We’re excited to drive innovation in the intent-centric multichain future, enhancing blockchain interactions for all web3 users,” said Mo Elahi, co-founder of Mayan.
In the rapidly expanding crypto space, dominated by chain proliferation and liquidity fragmentation, asset mobility poses significant challenges. Mayan’s user-friendly swap protocol provides a solution. It enables institutions and retail users to seamlessly move assets across blockchain ecosystems, facilitating participation in native functionalities. By prioritizing transparency and efficiency, Mayan’s protocol effectively matches traders with the best rates and settlement times, addressing the inefficiencies of the current landscape.
“Mayan has created a novel auction-based model to enable cross-chain crypto participation for both retail and institutional traders. They’ve impressively become one of the top cross-chain protocols by volume in less than a year, growing rapidly by providing fast, low-fee transfers. Mayan is seeing increased adoption and integration in the most trusted protocols in crypto, including Jupiter, Drift, MarginFi and Backpack, due to the robust architecture and terrific user flow,” said Mike Dudas, Managing Partner, 6th Man Ventures.
Mayan has already achieved impressive growth since its mid-2023 launch, surpassing $470 million in volume and establishing itself as a core connector between major crypto networks. Its seamless integration tools are powering inter-chain swaps on Drift and MarginFi, while other projects like Backpack use Mayan’s open-source SDK with custom UI for in-wallet cross-chain swaps.
Mayan’s intent-centric cross-chain protocol leverages Wormhole message passing to connect Solana, Ethereum, and the top EVM-compatible chains, is a new innovative way to enable seamless swaps of assets across diverse networks. Mayan’s English auction model matches users with bidding drivers, which are deep liquidity market makers, to achieve swift and favorable execution with the most optimal outcome on both ends. By harnessing the speed of Solana, Mayan holds on-chain auctions that settle in seconds.
“Mayan is at the forefront of the emerging cross-chain economy with an innovative auction model, which allows for the seamless swapping of assets across a wide range of networks, settling in seconds. Mayan’s commitment to secure, transparent, and efficient auctions not only benefits users and traders but also strengthens the overall ecosystem,” said Alpen Sheth, Partner, Borderless Capital.
Mayan’s roadmap includes further improvement of the cross-chain user experience, moving to completely permissionless and transparent auctions, deploying to more networks, and expanding its capabilities to include NFTs.
Users can experience seamless cross-chain swapping with Mayan by visiting: https://mayan.finance/
About Mayan
Mayan is an intent-based cross-chain protocol that utilizes auctions to provide the best possible swap rates for every trade. Powered by Wormhole message passing, Mayan seamlessly connects Solana, Ethereum, and major EMV-compatible chains such as BSC, Polygon, Optimism, Avalanche, and Arbitrum. With its robust API and pre-built widget, Mayan enables any website or dApp to offer cross-chain swaps almost instantly. As the most optimal decentralized venue for trading crypto assets, Mayan ensures a frictionless experience across diverse ecosystems.
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