HomeCoinsICON (ICX)ICON Foundation Partners with a Leading Market Maker Wintermute | by ICON...

ICON Foundation Partners with a Leading Market Maker Wintermute | by ICON Foundation | Hello ICON World | Jul, 2021

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ICON Foundation
ICON Foundation Partners with a Leading Market Maker Wintermute

Wintermute to Provide ICX Liquidity on New/Existing Exchanges

We are excited to announce a strategic partnership with Wintermute, a leading global algorithmic trading market maker. Founded in 2017 and funded by some of the most prestigious investment firms in the world, Wintermute provides liquidity on more than 3,000 trading pairs across centralized, decentralized, and AMM pools. In the 2H 2020, Wintermute’s volumes surpassed $70B, and their average daily trading volumes in 2021 are over $4B.

ICON is determined to become the go-to source for cross-chain interoperability and liquidity, and partnering with one of the largest and most experienced teams will help our efforts becoming a leading aggregator chain.

As part of this partnership, Wintermute will become one of the official market-making partners of the ICON project and will commit to providing liquidity to ICX pairs on all existing exchanges and new listings, and become active in our growing cross-chain DeFi ecosystem. The ICON Foundation will provide a loan of 6.5 million ICX with an option for Wintermute to purchase after one year.

Min Kim, ICON Foundation Council Member said, “Improving liquidity and the penetration/adoption of ICX will be critical as we move into the next phase of growth for the ICON Project. Wintermute has been a leader in the industry, and we are delighted to be working alongside them on our journey.”

Jonathan Chan, Director of Business Development and Strategic Partnerships said, “Wintermute is thrilled to be partnering with the ICON team. We believe in the importance of cross-chain interoperability and its necessity to promote future success within the industry. We are committed to improving liquidity in the digital assets markets.”

We are very excited about this opportunity and looking forward to seeing the value it brings to our ecosystem.

About ICON Foundation

ICON Foundation was founded in August 2017 to initiate the ICON Project, a blockchain protocol for decentralized applications. As an aggregator chain, it achieves interoperability — a web of interconnected networks aggregating all blockchain data into one layer. The ICON network is secured by nearly 150 validators in over 35 counties. ICON’s own native cryptocurrency ICX is traded in over 30 exchanges including Binance.com, Kraken, and Bithumb.

About Wintermute

Wintermute was founded in July 2017 by three Optiver veterans. Wintermute is a leading market maker of digital assets globally. Supporting many high-profile blockchain projects, the firm manages hundreds of millions in assets and trades more than $4B+/day across dozens of different trading platforms. Recently, Wintermute has raised $20 million in Series B from Lightspeed Ventures, Pantera Capital, and others.

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