Bitcoin News and Finance
Funding Roundup: Derivatives and Defi Draw a Fresh Influx of VC Firms and Private Investors Skip to main content

Funding Roundup: Derivatives and Defi Draw a Fresh Influx of VC Firms and Private Investors

As blockchain technology disrupts traditional industry standards, the list of progressive investors willing to stake their money has increased significantly. Leveraging this ongoing investment trend, both upcoming and ongoing projects are attracting millions of dollars from private investors, shaping a new era of decentralization.

Globe DX Successfully Closes Fresh $18 Million Funding Round

A new derivative exchange, Globe Derivative Exchange (Globe DX), has successfully closed its recent seed funding round. Backed by top-class blockchain VCs such as Pantera Capital, Y Combinator, CMT Digital, Draper Dragon, Wave Financial, Republic Crypto, and Okex, Globe DX closed the private round, raising a total of $18 million.

Derivatives spearhead the crypto exchange ecosystem, accounting for a large share of the total revenue generated by crypto businesses. Thanks to a platform loaded with unique features, Globe DX’s recent pre-sale attracted massive participation from VCs.

With more than 200 strategic partners backing the platform’s ecosystem, Globe DX has already fashioned a capable platform. It offers exposure to the Crypto Volatility Index, includes all features traders demand from a global derivatives exchange platform, and is designed to attract novices alongside seasoned crypto traders.

BENQI Adds $6 Million From Advisors and External Investors

Decentralized finance (defi) projects are drawing in a lot of venture capital money, and the newest project to successfully close its seed funding round is BENQI. The company has successfully raised $6 million from investors and is now preparing to start its much-awaited ICO.

Led by Ascensive Assets, the funding round attracted some of the biggest names in Defi and venture capital, including Mechanism Capital, Market Across, Spartan Group, Dragonfly Capital, Morningstar Ventures, Ava Labs, Arrington XRP Capital, and many more.

BENQI introduced an Avalanche-based decentralized noncustodial liquidity protocol to enable users to lend, borrow, and earn from digital assets efficiently. With the funding secured, BENQI will roll out its protocol on the mainnet in May 2021 and add token pools in the coming days. As the defi ecosystem on Avalanche is poised to explode, BENQI’s breakthrough consensus protocol will ensure instantaneous transactions at the lowest possible fees.

Jigstack Attracts $3 Million to Build The DAO of Decentralized Finance

With dozens of new projects exploring the use of blockchain technology and defi platforms across several commercial use cases, investors seem incredibly eager to sign staggeringly large checks for anything defi-related.

Riding on the investment trend, Jigstack, a decentralized autonomous organization (DAO), closed its public and private funding rounds, raising a total of $3 million. Both rounds witnessed overwhelming participation from leading investors such as DHC Capital, Blocksync Ventures, X21 Digital, Moonwhale Ventures, Exnet Network, and more.

Jigstack governs a portfolio of Ethereum network assets and protocols such as Lemonade, Stakbank, and Ethlink, each of which adds value to Jigstack’s native STAK token. The team behind Jigstack has designed an ecosystem to help engineer and deploy institutional-grade decentralized tools for every business need.

Independent Defi-Based Singularity DAO Raises $2.7 Million

Singularity DAO, a platform offering AI-powered defi portfolios, has successfully raised $2.7 million in its recent private sale funding. The sale, led by Alphabit, attracted several prominent investors from the crypto universe, including QCP Capital, Genesis Block Ventures, Magnus Capital, SMO Capital, AU21, Moonwhale Ventures, and Jun Capital.

The defi project Singularity DAO is an extended arm of the blockchain-centric AI marketplace, Singularity NET. It offers a suite of dynamically managed portfolios that can automatically adjust to meet changing market trends and generate new opportunities. Besides, the platform will also help optimize on-chain trading to boost decentralized exchange (DEX) liquidity by continually rolling out new predictive data models for digital asset management.

With a three-layered blockchain architecture powered and optimized by Singularity NET’s AI, the platform is designed to offer decentralized governance using Sing DAO tokens. The successful investment round will play a critical role in amping up the development phase of the Singularity DAO project for its mainnet launch.

Which of the four projects mentioned in the roundup do you find the most promising and why? Let us know in the comments section below.

Labels:

Comments

Post a Comment

Popular posts from this blog

Custodial Lightning Network Service Attack Discovered by LN ‘Newbie’ — Hacker Strikes 6 LN Custodians

On September 18, a Redditor posted to the r/bitcoin forum and explained how he discovered a way to “attack [the] lightning Network’s custodial services.” The Reddit account dubbed “Reckless Satoshi” wanted to figure out if a “discrepancy between real routing fees and service’s transaction fee can be exploited for a profit.” The researcher disclosed that he wanted to see how large the damage could be and said “it is bad.” 6 Lightning Network Custodial Services Attacked, Researcher Discloses Findings to Offenders Prior to Public Disclosure A Redditor called Reckless Satoshi published a disclosure post on r/bitcoin this past Saturday and disclosed how he had found a vulnerability with routing fees and some of the Lightning Network’s custodial services. The research attack was done in good faith and after it was complete he disclosed the bugs to the offending services before publishing his findings. Reckless Satoshi used the Lightning Network (LN) attack on six different services incl...
Post a Comment
Read more

Axie Infinity Down 40% Since Last Week’s Price High, Protocol Revenue Outshines Competitors

Last week, the game token leveraged within the Axie Infinity gaming universe skyrocketed to all-time highs, while other crypto markets remained extremely lackluster. During the last seven days, Axie Infinity’s platform token has dropped significantly in value shedding more than 12%. Meanwhile, the game platform’s smooth love potion token has slid over 8% over the last 24 hours. Axie Infinity Down More Than 40% Since All-Time High Not too long ago, the axie infinity (AXS) token was a topical conversation because it reached an all-time high on July 15. At the time, AXS managed to capture $28.93 per unit and since then it has shed 12.8% during the last seven days. The axie infinity (AXS) token is used within the blockchain-based game that involves battles between token-based creatures called “Axies.” AXS is used for the game’s governance system as well as other actions within the game. At the time of writing axie infinity (AXS) is exchanging hands for $16.70 per coin. AXS/USD on Ju...
Post a Comment
Read more

Play-to-Earn Game From Polker (PKR) Exchange Listing – Endorsed by Akon

The Play-to-Earn NFT based Polker.Game ‘s native token $PKR has been officially listed on the popular centralized exchange BitMart. Polker.game has been in the spotlight recently as Akon, the American R&B superstar and record producer gave his official endorsement of polker stating that the “game is revolutionary” and that Polker is “hands down.. the best play to earn, NFT game in the space.”. With the BitMart listing and celebrity endorsement from Akon, Polker is perfectly positioned to become a major player in the Play-to-Earn league. Watch Akon’s Video Here What is Play-to-Earn? Although not a new concept, play-to-earn has become a trending term due to the popularity of the NFT game AXIE infinity. In the past, previous play-to-earn games have also achieved success – however, thanks to the huge amount of development in the blockchain space in recent years the gaming experience is now massively improved. Play-to-Earn games are essentially free to play and open to anyone and...
Post a Comment
Read more

China to Crack Down on Copyright Infringement Through NFTs

Authorities in China are going after creators of digital collectibles based on other people’s works of art, the use of which was not authorized. The government offensive is part of a campaign to combat online copyright infringement and piracy with the participation of several departments. Regulators in China Move to Strengthen Copyright Supervision of Online Platforms The National Copyright Administration of China (NCAC) has recently launched a campaign against copyright infringement and piracy on the internet, together with the Ministry of Industry and Information Technology, the Ministry of Public Security, and the State Internet Information Office of the People’s Republic. A major objective of the initiative is to improve copyright supervision of online businesses by investigating cases involving the sale and distribution of infringing products on short video, live broadcast and e-commerce platforms, and promptly dealing with infringing content, the agency announced in a press r...
Post a Comment
Read more
Blogarama - Blog Directory