Pantera Capital Leads $2.6M Seed Round for DEX Protocol Injective

Pantera Capital Leads $2.6M Seed Round for DEX Protocol Injective

https://www.shutterstock.com/image-photo/us-currency-dollars-related-eraser-on-573797749

(Monika Gruszewicz/Shutterstock)

Injective Protocol, a decentralized derivatives exchange protocol incubated by Binance Labs, has raised $2.6 million in a seed funding round.

  • Led by Pantera Capital, the round also saw Asia-based QCP Soteria, Axia8 Ventures and Boxone Ventures, Bitlink Capital and others participate, Injective announced Wednesday.
  • Injective Protocol sets out to resolve scalability issues and bottlenecks that can mar the user experience on decentralized exchanges (DEXs).
  • The project was one of eight inducted into the Binance Labs Incubation Program in 2018, with the mission to resolve some of the shortcomings DEXs face, such as high latency and poor liquidity.
  • Aside from the seed investment, the group of investors will also provide liquidity solutions for Injective and support its business developments and global brand recognition, according to the press release.
  • Pantera Capital partner Paul Veradittakit said the investment firm led the round because of its belief that Injective is a “strong contender” for expanding decentralized finance (DeFi) beyond Ethereum’s platform.
  • The funding comes as the protocol prepares for a mainnet launch and a new token to be issued in the latter half of 2020.
  • Bitcoin
  • Ethereum
  • Litecoin
  • Zcash
Scan to Donate Bitcoin to bc1qcc3xajxvdqjnx2f7j7sfcfun7jagr0nh94fa2e

Donate Bitcoin to this address

Scan the QR code or copy the address below into your wallet to send some Bitcoin

Scan to Donate Ethereum to 0x704671D7591d05Dd0790E86Aee964558E9347b07

Donate Ethereum to this address

Scan the QR code or copy the address below into your wallet to send some Ethereum

Scan to Donate Litecoin to ltc1q7tj9ydra9ylkelu42vypp6cu2v0msf5lc2p5mq

Donate Litecoin to this address

Scan the QR code or copy the address below into your wallet to send some Litecoin

Scan to Donate Zcash to t1LiPaQ7gsSL23FbjXswpSoguP6yAE1xj5B

Donate Zcash to this address

Scan the QR code or copy the address below into your wallet to send some Zcash

 94 Interactions,  2 today

Crypto & Finance News