Crypto funding: A focus on decentralized orderbook exchanges in $66M week
The post Crypto funding: A focus on decentralized orderbook exchanges in $66M week appeared on BitcoinEthereumNews.com. Eleven crypto startups pulled in a collective $66.7 million in new early stage funding rounds this week. Coming in at number one was SynFutures with a $22 million series B fundraise. Pantera Capital led the round for the crypto and NFT futures DEX, along with Susquehanna International Group and HashKey Capital. Alongside this significant cash injection from top crypto venture capital firms, SynFutures also debuted version three of its exchange. For now, it’s in a public testnet that can only be accessed via a desktop. The updated model for the platform relies on a new automated market maker (AMM) called Oyster. It features an on-chain order book, a new liquidation framework specifically for derivatives trading, and a way to provide liquidity through a single token of a trading pair. Read more: SynFutures raises $22 million, introduces public testnet for v3 Speaking of liquidity on DEXs, Elixir Protocol just raised $7.5 million to address that exact issue. The funds for the DeFi protocol were raised at a $100 million valuation, with Hack VC leading the round. NGC Ventures, AngelList Ventures, Bloccelerate and various angels also invested. With the additional cash now on hand, Elixir wants to help DEXs and other protocols be able to adopt a decentralized order book model by helping provide liquidity to get trades off the ground. Upland, a metaverse aiming to mimic the terrain of the real world, raised $7 million on Friday as part of an extension of its 2021 series A round. Existing investors C3 Venture Capital and Animoca Brands contributed to the round as did new investor EOS Network Ventures. Upland allows its users to own virtual property mapped to the real-world geography of Earth. And like our planet, real estate on Upland varies quite a bit in price depending on the location you…
The post Crypto funding: A focus on decentralized orderbook exchanges in $66M week appeared on BitcoinEthereumNews.com.
Eleven crypto startups pulled in a collective $66.7 million in new early stage funding rounds this week. Coming in at number one was SynFutures with a $22 million series B fundraise. Pantera Capital led the round for the crypto and NFT futures DEX, along with Susquehanna International Group and HashKey Capital. Alongside this significant cash injection from top crypto venture capital firms, SynFutures also debuted version three of its exchange. For now, it’s in a public testnet that can only be accessed via a desktop. The updated model for the platform relies on a new automated market maker (AMM) called Oyster. It features an on-chain order book, a new liquidation framework specifically for derivatives trading, and a way to provide liquidity through a single token of a trading pair. Read more: SynFutures raises $22 million, introduces public testnet for v3 Speaking of liquidity on DEXs, Elixir Protocol just raised $7.5 million to address that exact issue. The funds for the DeFi protocol were raised at a $100 million valuation, with Hack VC leading the round. NGC Ventures, AngelList Ventures, Bloccelerate and various angels also invested. With the additional cash now on hand, Elixir wants to help DEXs and other protocols be able to adopt a decentralized order book model by helping provide liquidity to get trades off the ground. Upland, a metaverse aiming to mimic the terrain of the real world, raised $7 million on Friday as part of an extension of its 2021 series A round. Existing investors C3 Venture Capital and Animoca Brands contributed to the round as did new investor EOS Network Ventures. Upland allows its users to own virtual property mapped to the real-world geography of Earth. And like our planet, real estate on Upland varies quite a bit in price depending on the location you…
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