Series Pantera CapitalMcsweeney TheBlock has raised $15 million in a Series A led by Pantera Capital. Injective Protocol has also raised $2.6 million in a seed round from Pantera Capital. This series will explore the intersection of DeFi and also traditional finance as well as the continued institutionalization of this space. Pantera has already invested in Unstoppable Domains, a decentralized domain registry.
Exchange (DEX) Infrastructure
Series Pantera CapitalMcsweeney TheBlock decentralized exchange (DEX) infrastructure provider 0x Labs has closed a $15 million Series A equity round led by Pantera Capital. The funding will go towards the development of its ZRX token and trading desk business. The company will also use the funds to further develop its open-source protocol and also aggregation API.
The $15 million Series A round comes at a time when the DeFi market is booming and non-custodial exchange protocols are seizing a small piece of the crypto market. In January of this year, decentralized exchanges issued the highest volume in a month. The funds raised this week are part of the company’s continuing efforts to build a global financial system.
Worth of Orders
Series Pantera CapitalMcsweeney TheBlock is a startup that aims to build an open protocol that will enable peer-to-peer trading of digital assets. With this latest funding, it plans to accelerate its expansion and also increase the size of its team. The company has already launched a decentralized exchange infrastructure called Matcha that has handled over $2.7 billion worth of orders.
With this funding, the startup plans to invest in its Matcha platform, which will aggregate liquidity across several DEXs. This technology will enable developers to incorporate exchange functionality into their applications and also build new markets for tokenised assets. The team is comprise of top talent from top companies. The company has a remote-first and fully distributed culture.
World-Renowned Institutional Investors
Decentralized derivatives exchange protocol developer Injective Protocol has raised $2.6 million in seed funding led by Pantera Capital and also world-renowned institutional investors. The company plans to use the funds to improve user experience and solve critical scalability problems of DEXs. It also plans to develop liquidity solutions for decentralized exchanges. The strategic investors will help the startup with its business development and also international marketing efforts.
The team behind Injective Protocol is made up of Stanford University graduates who have experience in cryptographic research and also hedge funds. They have also worked at a blockchain-focused fund. Their team aims to generate interest in innovative market ideas and build demand for different creative markets. The startup invites submissions of a maximum 3-page proposal in Times New Roman font size 12 in PDF format. The proposals will be reviewed by industry experts and market makers. If selected, winning ideas could be implemented on the Injective Protocol exchange.
The Injective Protocol is a permissioned blockchain that allows developers to launch dapps on its network. A developer can create a app on Injective only after their proposal is approve by the governance. Currently, the protocol supports six trading dapps. One of these is Helix, while the other five are simple clones of the standard DEX interface.
Injective’s native token, INJ, is the main currency on the network. It is used to secure the network, pay gas fees, and provide governance. It has a total supply of 100 million tokens. Tokens can increase in value through inflationary emission from block rewards. The current target inflation rate is 7% (or 5% in real terms), but the company aims to lower this rate to 2% over time.
Marketplace & Instant Finalization
Injective, a decentralized trading platform, has raised $15 million in a series A round led by Pantera Capital. The company hopes to create a decentralized Robinhood-style platform with a decentralized marketplace and also instant finalization of transactions. While the company’s primary competitors include BitMEX, OKEx, and the CME Group, Injective’s approach is unique in that it combines the advantages of centralized platforms with those of decentralized exchanges. Its trading platform allows users to trade stocks, indices, and also derivatives with very low transaction fees and no gas costs. Additionally, developers can create their own derivatives through a simple platform.
Injective’s founders hail from Stanford University, and came up with the idea for the project in 2018. The team had previously worked at hedge funds and a blockchain focused fund, before forming the company. They now hope to expand globally, and they are leveraging this funding to accelerate the company’s marketing and growth efforts.