Derivatives and Defi Draw a Fresh Influx of VC Firms and Private Investors – Finance Bitcoin News
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The cryptocurrency market recently saw a significant growth in the inflow of VC firms and private investors. The cryptocurrency market has long been defi cient of more investors and funds as the industry faces criticism on the pace of innovation.
With a silver fork in one hand and a Bitcoin in the other, Chris Larsen, CEO of Ripple, was at pains to differentiate between the two after the company’s annual Swell conference in San Francisco this week, which saw a fresh influx of VC firms and private investors pour money into the crypto-currency. “I want to make sure that we’re not confused about the relationship between XRP and Ripple the company,” Larsen said in his keynote speech.
As blockchain technology breaks through traditional industry norms, the list of forward-thinking investors willing to put their money on the line has grown significantly. With this investment trend, current and future projects are attracting millions of dollars from private investors and shaping a new era of decentralization.
Globe DX has successfully closed a new $18 million funding round
New derivatives exchange Globe Derivative Exchange (Globe DX) has successfully completed its latest round of initial funding. Backed by leading blockchain venture capital firms including Pantera Capital, Y Combinator, CMT Digital, Draper Dragon, Wave Financial, Republic Crypto, and Okex, Globe DX closed a private funding round that raised a total of $18 million.
Derivatives lead the ecosystem of crypto exchanges and account for a large portion of crypto companies’ total revenue. With a platform full of unique features, Globe DX’s recent presale attracted massive participation from venture capitalists.
With over 200 strategic partners supporting the platform’s ecosystem, Globe DX has already created a powerful platform. It provides exposure to the volatility index of cryptocurrencies, includes all the features traders demand from a global derivatives trading platform, and is designed to appeal to both newcomers and experienced crypto traders.
BENQI receives $6 million from outside counsel and investors
Decentralised financing projects (Defi) are attracting a lot of venture capital, and the latest project to successfully complete a seed capital round is BENQI. The company has successfully raised $6 million from investors and is now preparing to launch its highly anticipated ICO.
The round, led by Ascensive Assets, attracted some of the biggest names in defense and venture capital, including Mechanism Capital, Market Across, Spartan Group, Dragonfly Capital, Morningstar Ventures, Ava Labs, Arrington XRP Capital and many others.
BENQI has launched a decentralized liquidity protocol based on Avalanche technology that allows users to efficiently borrow, lend and earn from digital assets. Once funding is secured, BENQI will launch its protocol on the main network in May 2021 and add token pools in the coming days. As the Defi ecosystem on Avalanche is about to explode, BENQI’s revolutionary consensus protocol will enable immediate transactions with the lowest possible cost.
Jigstack raises $3 million to build a DAO for decentralized finance
With dozens of new projects exploring the use of blockchain technology and defi platforms in various commercial use cases, investors seem incredibly willing to write staggering amounts of checks for anything defi.
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Building on an investment trend, Jigstack, a decentralized autonomous organization (DAO), has closed public and private funding rounds, raising a total of $3 million. Major investors in both rounds include DHC Capital, Blocksync Ventures, X21 Digital, Moonwhale Ventures, Exnet Network and others.
Jigstack manages a portfolio of Ethereum network assets and protocols such as Lemonade, Stakbank, and Ethlink, each of which adds value to Jigstack’s own STAK token. The Jigstack team has created an ecosystem that supports the development and deployment of decentralized tools at the institutional level for any business need.
Independent definition-based CAD company Singularity raises $2.7 million
Singularity DAO, a platform offering artificial intelligence-based challenge portfolios, managed to raise $2.7 million in a recent private sale financing. The sale, led by Alphabit, attracted several leading investors from the cryptocurrency space, including QCP Capital, Genesis Block Ventures, Magnus Capital, SMO Capital, AU21, Moonwhale Ventures and Jun Capital.
The Singularity DAO Defi project is an extended division of the Singularity NET blockchain-based artificial intelligence marketplace. It offers a range of dynamically managed portfolios that can automatically adapt to changing market trends and generate new opportunities. Moreover, the platform will help optimize blockchain trading to increase the liquidity of the decentralized exchange (DEX) by continuously introducing new predictive data models for managing digital assets.
With a three-layer blockchain architecture powered and optimized by Singularity NET’s artificial intelligence, the platform aims to enable decentralized management via Sing DAO tokens. A successful investment round will play a key role in activating the development phase of the Singularity DAO project for launch on the main network.
Of the four projects listed in this overview, which do you think is the most promising and why? Let us know your comments in the section below.
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