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Ammalgam

15 known investors

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Ammalgam is a decentralized lending exchange (DLEX) that combines trading and lending in a single DeFi protocol, letting users lend, trade, and leverage any asset without oracles through Dual Purpose Pools. It targets crypto users seeking capital-efficient position management, self-custody, and preconfigured trading strategies.

Also known as Ammalgam · Ammalgam DLEX

Investors · 15

Also in the syndicate · 4

Bodhi VenturesDeWhalesKain WarwickSpencer Noon

Company profile

researched Aug 2026

Ammalgam is a decentralized lending exchange (DLEX), a DeFi protocol that merges decentralized exchange trading with lending in a single product. Its core construct is the Dual Purpose Pool, which allows deposited assets to serve simultaneously as trading liquidity and as lendable capital, with the stated aim of increasing capital efficiency across a portfolio and reducing impermanent loss by putting otherwise idle assets to work. The protocol supports lending, trading and leveraging of any asset without relying on price oracles, and permits anyone to create a pool for any token.

The product exposes a set of preconfigured "recipes" that let users assemble and execute strategies including short/long positions, market making, delta-neutral market making, short/long market making, straddles, calls and puts. Users can borrow against their own liquidity positions, deposit assets at stated lower costs and higher loan-to-value ratios, and compound returns through leveraged Dual Purpose Pools. The protocol is live on Ethereum mainnet.

Business model

Ammalgam operates a permissionless on-chain protocol in which participants supply assets to Dual Purpose Pools that serve both trading and lending functions. Liquidity providers earn from swap activity and lending interest simultaneously, while traders and borrowers access capital from shared pools; users retain self-custody of assets throughout.

The protocol generates activity through swap fees and lending interest accruing to liquidity providers and depositors in its shared Dual Purpose Pools.

Traction

Ammalgam states the protocol is live on Ethereum mainnet and open for trading.

▸Full profile — market position, technology, go-to-market

Market position

Ammalgam describes itself as the first Decentralized Lending Exchange and says it is backed by investors in DeFi. It sits at the intersection of decentralized exchange and on-chain lending categories.

Ammalgam positions itself as the first decentralized lending exchange, combining DEX trading and lending in one protocol rather than requiring users to bridge separate venues. Distinguishing elements cited by the company include oracle-free operation, Dual Purpose Pools that make the same deposited capital productive for both swaps and loans, permissionless creation of pools for any token, borrowing directly against liquidity positions with higher LTV, and preconfigured strategy recipes.

Technology

The protocol runs on Ethereum mainnet and operates without price oracles. Its architecture centers on Dual Purpose Pools that combine trading liquidity and lending markets, supports permissionless pool creation for any token, and enables leverage and borrowing against liquidity. The company states its security framework combines extensive testing, formal verification and reviews by external security firms.

Go-to-market

Ammalgam distributes through a self-serve web application on Ethereum mainnet and cultivates a community-led channel, including a Discord, a protocol blog and an ambassador program that offers ambassador yield and additional rewards to contributors.

Traders seeking deep, capital-efficient liquidity; liquidity providers who want to earn lending and trading yield on the same deposits; and higher-risk DeFi users borrowing, lending and swapping from shared community pools.

Compiled by commissioned research from 6 cited public sources — announcements, filings, and press listed under research sources below.

Key figures

latest reported
Stated increase in liquidity provider yield from capital efficiencySep 202420%

Company-reported or press-reported figures, each dated to when it was claimed — not independently audited.

Timeline · 2

launches, deals, and filings
Jan 2025
Ammalgam protocol live on Ethereum mainnet

Ammalgam announced on its website that the protocol is live on Ethereum mainnet, with trading available through its app.

source ↗

Sep 2024
Ammalgam closes $2.5M seed round co-led by Lightspeed Faction and Framework Ventures

Ammalgam announced the close of a $2.5M seed round to fund protocol growth and development, hiring, security audits and go-to-market efforts.

$2.5M source ↗

Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.

▸Research sources · 6

primary sources listed

6 public sources were cited for this profile; the first-party ones are listed here.

Frequently asked questions

What does Ammalgam do?
Ammalgam is a decentralized lending exchange that combines DEX trading and lending in oracle-free Dual Purpose Pools.
Who are Ammalgam's investors?
Ammalgam's investors include Faction, Founderheads,, Hyperithm, Marin Digital Ventures, Anton Bukov, Blockchain Founders Fund, Framework Ventures, Jordi Alexander and 3 more.