Swivel Finance (SWIV)

• From the Swivel blog (10-12-2020):

"The decentralized protocol for fixed-rate lending and interest-rate derivatives."

Basics

• Based in:
• Started in / Announced on:
• Mainnet release: 11-2-2022

History

• FKA DefiHedge.
• From their blog (10-12-2020):

"Since ETHDenver 2020 we have been building out Swivel. We left ETHDenver with a ton of initial momentum, finished our basic on-chain proof-of-concept and, with some potential investor encouragement, then began working full time on Swivel.

Coming off that push and looking for an opportunity to legitimize the project, we then joined Gitcoin’s Kernel Fellowship Genesis cohort, an experience that has been integral to getting where we are today. Kernel of course accelerated our development, but more importantly introduced us to a community of developers and thought leaders that have been invaluable. Between contributions to our liquidity incentive design from Status’ Andy Tudhope and continuous input from Kernel mentor and now Swivel contibutor Thomas Klocanas, we came out of Kernel with a novel protocol design and the guidance we needed. Further, thanks in part to the investor platform Kernel provided, we were able to come out of demo day with the support of our earliest investors, Imran Khan and Qiao Wang."

Audits & Exploits

• Bug bounty program can be found [insert here].

Token

Launch

• Went live with retroactive distribution on 11-3-2022.

Utility

• Governance (11-3-2022).

Technology

• Whitepaper can be found [insert here].
• Code can be viewed [insert here].
• Built on: Ethereum

Roadmap

• Can be found [Insert link here].

• From their blog (10-12-2020):

"For our initial release, Swivel v1 will facilitate trustless interest-rate swaps, allowing cautious lenders to lock in a guaranteed yield, and speculators to leverage their rate exposure, placing Swivel in a unique spot within the market."

Usage

• From their twitter (11-3-2022):

"The Swivel Exchange has traded nearly $150,000,000 since our launch 28 days ago... With ~$7.5m a day in volume."

Team, Funding, Partners

Team

• Full team can be found [here].
• William Hsieh; co-founder
• Julian Traversa; co-founder
• In the announcement (10-12-2020) of the seed round they said they had been: "a small team of two working with the constraints of a minimal self-funded budget."

Funding

• In their blog they write: "our earliest investors [were], Imran Khan and Qiao Wang."
• From Paradigm (12-2020):

"Swivel Finance closed a 1.15M seed round led by Multicoin Capital and included Electric Capital, CMS Holdings, Divergence Ventures and Defiance Capital as well as influential angels including Stani Kulechov, CEO of Aave, Alex Pack, Huobi Advisor, and Imran Khan of DeFi Alliance." Others include Qiao Wang and Ash Egan.