Ooga Booga Secures $1 Million Investment to Launch the First Liquidity Aggregator on Berachain

London, UK, March 20th, 2024, Chainwire

Ooga Booga The funding of $1 million will help Ooga Booga build a comprehensive set of sophisticated tools that streamline asset swaps and ensure users get the most competitive prices.

Co-founded by Bruno Wu and Kevin Liu—who, at just 19, is also known for spearheading the fully on-chain EVM order book known as Gridex Protocol—Ooga Booga now boasts a $10 million valuation following this funding round, and it plans to deploy on Berachain immediately upon the mainnet launch.

Drawing from his experience with Gridex, Kevin Liu’s insights significantly influence the design of Ooga Booga. The aim is to achieve the perfect market fit for Berachain, which is poised to be one of the most eagerly awaited layer 1 blockchains this year.

A cadre of prominent investors and angel backers committed funds to Ooga Booga, with Kenetic Capital at the helm. Other notable contributors include Cypher Capital, CitizenX, Rubik, Rana, Baboon VC, Kestrel, Nural Capital, Wizard Capital, Panony, and Blockbuilders. Among the distinguished angels are Sandeep Nailwal from Polygon, Apollo of Olympus DAO, Anshu of LogX, Beartic of Kodiak, Raito of Infrared, Brandon Comer from Shogun, DCF GOD, NaniXBT, 0xSisyphus, Janitooor.eth, and many others. With this financial boost, Ooga Booga is set to establish itself as a key player in the Berachain ecosystem right from the start.

Ooga Booga is crafted to refine the user experience by offering a straightforward and capital-efficient platform for asset trading, boasting robust liquidity and minimal slippage. It plans to aggregate liquidity by connecting with a variety of third-party dapps, such as decentralized exchanges, intent-based infrastructure, and Solidly forks, bringing a wealth of options to the Berachain ecosystem under one roof.

Core features include:

• Simple Swaps: Enable routing through multiple liquidity channels, prioritizing protocols that facilitate one-way or two-way swaps.
• Dollar-Cost Averaging (DCA): Facilitates staggered buying and selling of a designated asset through numerous smaller transactions over a user-defined timeframe.
• Limit Orders: Allows for the execution of trades at a predetermined price by matching them with available liquidity on Berachain, translating centralized exchange trading behaviors into the on-chain space.
• Multi-Asset Swaps: Offers the capability to swap various tokens in a single, atomic transaction.
• Gasless Swaps: Enables trading without the need to possess the native gas token (BERA).

Berachain is engineered to be a high-performing EVM-compatible blockchain underpinned by the innovative Proof-of-Liquidity consensus. Ooga Booga will bolster Berachain's reputation as the most capital-efficient layer 1 blockchain by consolidating liquidity and allowing users to attain greater value from each trade they make.

As Berachain approaches the conclusion of its testnet phase, the launch of the mainnet is expected to happen shortly. Ooga Booga is gearing up to initiate its operations on the Artio testnet soon, with a presence on Berachain’s mainnet right from day one, enabling traders to optimize their activities from the very first moments and tap into the numerous opportunities this new layer 1 offers.

According to the MVP from the Ecosystem Growth Team at the Berachain Foundation: \"Our time collaborating with Kevin and the Ooga Booga team has been rewarding. They've demonstrated a profound understanding of the community's culture and a commitment to crafting valuable products. We look forward to their contributions to the Berachain ecosystem!\"

About Ooga Booga

Ooga Booga functions as a liquidity aggregator intending to support Berachain in its quest to become the most capital-efficient blockchain available. By merging an outstanding user interface and user experience with comprehensive dapp integrations, Ooga Booga is set to empower users in maximizing the value extracted from every trade.

Contact

Kevin Liu