Mayan, a startup focused on developing a cross-chain auction protocol, has successfully secured $3 million in seed funding.
The funding round was co-led by venture firms 6th Man Ventures (6MV) and Borderless Capital, with participation from notable investors such as Solana Ventures, Hash3, Big Brain Holdings, Arrington Capital, Wormhole Cross-Chain Ecosystem Fund, Solana co-founder Anatoly Yakovenko, and Wormhole Labs co-founder Saeed Badreg.
This seed funding marks the entirety of Mayan’s funding raised thus far, reflecting the confidence and support from early adopters. Mo Elahi, co-founder of Mayan, expressed gratitude to the platform’s early users, highlighting the significant achievement of over $470 million in transferred value across ecosystems. Elahi also indicated plans to reward loyal users in the future by implementing a points system to track user engagement on the Mayan platform.
Mayan, built on the Solana blockchain, is designed to optimize transaction rates for users transacting across different blockchains. The protocol facilitates this by converting input tokens into the USD-pegged stablecoin USDC and then transferring them to their designated destinations using Circle’s Cross-Chain Transfer Protocol (CCTP). This process involves burning USDC on the source chain, minting it on the destination chain, and coordinating these actions between Circle and the source chain. Additionally, Mayan utilizes a message-passing platform from Wormhole to transmit relevant data for auctions.
According to Mayan’s website, the platform has facilitated a total volume of approximately $486 million USD across 337,185 swaps, with nearly 150,000 active wallets. Looking ahead, Mayan aims to enhance the cross-chain user experience, implement fully permissionless and transparent auctions, expand to additional blockchains, and introduce support for non-fungible tokens (NFTs).
Mo Elahi emphasized Mayan’s vision to evolve into a fully permissionless trading venue for various crypto assets, including both fungible tokens and NFTs. The team is committed to driving innovation in the multichain ecosystem, aiming to enhance blockchain interactions for all users in the web3 space.
