With the aim of establishing the first liquidity aggregator on Berachain, Ooga Booga announced a $1 million fundraising. The funds will be utilized to develop a whole range of sophisticated tools that will allow customers to easily execute swaps and get the best pricing.
Bruno Wu and Kevin Liu co-founded Ooga Booga. The 19-year-old Liu is also the driving force behind the Gridex Protocol, a completely on-chain EVM order book. With a $10 million valuation, Ooga Booga will be ready to deploy on Berachain as soon as its mainnet launches thanks to the $1 million funding.
Ooga Booga’s design has benefited from Kevin Liu’s expertise with Gridex. As one of the most anticipated layer 1s of the year, Ooga Booga hopes to achieve optimal product market fit on Berachain by using the knowledge gained from Gridex Protocol.
Ooga Booga was funded by many prominent angel investors and others that were interested in the Berachain ecosystem. With participation from Cypher Capital, CitizenX, Rubik, Rana, Baboon VC, Kestrel, Nural Capital, Wizard Capital, Panony, and Blockbuilders, Kenetic Capital led the round. A few well-known angels are: Raito of Infrared, Anshu of LogX, Beartic of Kodiak, Sandeep Nailwal of Polygon, Apollo of Olympus DAO, DCF GOD, 0xSisyphus, NaniXBT, Janitooor.eth, and Brandon Comer of Shogun. With the funds available for development and launch, Ooga Booga is well-positioned to establish itself as a key component of Berachain right away.
Ooga Booga offers a simple, capital-efficient way to trade assets with high liquidity and little slippage while also optimizing the user experience. Via the integration of several third-party dapps, such as Solidly forks, DEXes, and intent-based infrastructures. Liquidity from all throughout the Berachain ecosystem will be gathered by Ooga Booga and consolidated in one place.
Core features include:
- Basic Swaps: Various liquidity sources are routed through, with a focus on protocols that make use of any one-way or two-way swap function.
- DCA: Facilitates time-delayed purchase and sell operations for a particular asset by distributing several smaller orders over a user-specified internal.
- Limit Orders: Bringing CEX-style trading to a onchain context, these orders are executed based on a predetermined price and are matched with all available Berachain liquidity.
- Multi-Asset Swaps: Enables the swapping of several input/output tokens in a single atomic transaction.
- Gasless Swaps: Users are able to trade without possessing the native gas token (BERA).
Based on the innovative Proof-of-Liquidity consensus, Berachain is intended to function as a high-performance blockchain that is compatible with EVMs. By bringing disparate liquidity together, Ooga Booga will strengthen Berachain’s position as the most capital-efficient L1, enabling customers to get more value out of each trade.
Confirmation of Berachain’s mainnet debut is expected soon, as the company is now wrapping up its testnet. Ooga Booga will shortly launch on the Artio testnet and the Berachain mainnet, enabling users to take advantage of all the potential the new layer 1 offers and optimize their trading from the beginning.
MVP from the Ecosytem Growth Team at the Berachain Foundation:
“We’ve been fortunate to get to know Kevin and the Ooga Booga team over the past few months. They’ve shown that they understand the culture deeply, want to build useful products, and we’re excited for the contributions that they’ll be able to make to the Berachain ecosystem.”
