2021-1-27 09:45 |
dYdX has just completed their $10M Series B fundraise, the decentralized perpetuals trading exchange welcomes Three Arrows Capital and DeFiance Capital on board as the lead investors of this round.
We’re excited to announce that dYdX has raised a $10M Series B round led by Three Arrows Capital and DeFiance Capital! https://t.co/uZ2wFoyv3e@zhusu @Arthur_0x @DeFianceCapital
— dYdX (@dydxprotocol) January 26, 2021
Both lead investors stated that much of their motivation in wanting to invest in dYdX was due to the fact they are active users of the product. Other investors involved in this round include Wintermute, Hashed, GSR, SCP, Scalar Capital, Spartan Group, and RockTree Capital.
The protocol’s main point of differentiation is its high-performance matching engine with order books, which delivers an institutional-grade trading experience that is hard to find in the decentralize finance space.
Since the start of this year, total trading volume has already surpassed $3.5 billion, the team plans to launch dYdX on StarkWare’s layer 2 solution this coming February.
Last year in 2020, the dYdX team was able to achieve multiple milestones such as:
Total cumulative trade volume across Perpetuals, Margin, and Spot trading increased 40x, reaching $2.5 billion in 2020, up from $63 million in 2019. : $1.9 billion in Margin / Spot Trade Volume $563M in Perpetuals Volume Trade Volume: Volumes on perpetual contracts accounted for 41% of total trading volume in December. $17.4+ billion from 2020 Loan Originations 4.8x growth in unique user wallets from 8,000 wallets to 38,588 6 new team members across Engineering, Design, & Growth.With the influx of new capital, the team plans to rapidly add new tradeable assets, invest in strategic markets, hire addition developers, and decentralize the protocol further.
Keep up with dYdX by following their Twitter.
The post dYdX Secures $10m in Series B Raise appeared first on DeFi Rate.
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