Merkle Trade receives $2.1 million in funding led by Hashed and Arrington Capital
Written by: Merkle Trade
Compiled by: Xiaobai Navigation coderworld
Merkle Trade is the first gamified, fully-sustainable DEX powered by LayerZero and Pyth Network, transforming trading into a fun, social, and more accessible experience.
Merkle Trade is a decentralized trading platform that providescryptocurrency, foreign exchange and commodity trading, with leverage up to 1,000 times. On March 28, 2024, it announced the successful completion of a $2.1 million seed round led by Hashed and Arrington Capital, with other participants including Morningstar Ventures, Amber Group, Aptos Labs, Re7 Capital and Dorahacks.
Merkle Trade aims to turn trading into an enjoyable and social activity for everyone. The platform combines gaming elements and social trading to democratize the trading experience. Following its launch in late 2023, this funding will fuel the protocol's development plans to enable it to continue to innovate as the leading decentralized perpetual coin trading platform.
“Given the highly volatile nature of crypto assets, being able to conduct directional trades in a non-custodial manner is a very attractive feature for a variety of users in the industry,” said Ryan Kim, co-founder and partner at Hashed. “In this context, we believe Merkle.trade’s unique focus on long-term traders will unlock a new market with huge potential.”
Michael Arrington of Arrington Capital said: “The Merkle Trade team is committed to improving existingweb3Merkle Trade has a unique vision for the trading experience of traders and new entrants to the market, emphasizing speed, user-friendly interface and immersive gamification.Xiaobai Navigation"Our leading technology companies, which are leveraging faceted and immersive gamification, are removing barriers to entry and demonstrating product-market fit through significant early deal volume and user expansion."
The emphasis on gamified trading has proven to be transformative, driving Merkle Trade’s growth and success. In just 4 months, Merkle Trade has 90,000 traders and $5 billion in trading volume, becoming the leading perpetual DEX on Aptos and ranking in the top 10 in the entire decentralized derivatives ecosystem. As a full-chain platform, Merkle Trade currently integrates with Ethereum, Polygon, Arbitrum, Optimism,BinanceSmart Chain and Avalanche collaboration.
Merkle Trade gamifies the trading experience through its unique upgrade system, where active trading unlocks new levels and rewards traders with loot boxes and exclusive NFT items, which have randomized trading benefits and points boosts. In addition, traders can also participate in weekly trading tasks to earn points, with task levels ranging from beginner to advanced, and each task provides corresponding rewards.
Mo Shaikh, co-founder and CEO of Aptos Labs, said: “Scaling DeFi and social connectivity on-chain is core to enabling billions of users to enter the next phase of the internet: an accessible,Safetyand decentralized web." Merkle Trade embodies this mission and will become the protocol of choice for market transactions and GameFi around the world."
This round of funding will enable the team to further enhance the gamification and social aspects of the platform. Plans include building an in-app marketplace for NFT items, trading battles, and copy trading features. In addition, the roadmap also includes substantial improvements to the onboarding process, allowing non-Web3 native users to use the platform without the need for custodianship.walletYou can use the platform.
About Merkle Trade
Merkle TradeIt is a decentralized trading platform that providescryptocurrency, forex, and commodities trading with up to 1,000x leverage. The platform offers a simplified trading user experience and gamified trading features that cater to both experienced and new traders, ensuring an unparalleled trading experience for all users. On Merkle Trade, users can not only enjoy an excellent perpetual DEX experience, but also experience the excitement of competition and gaming. Traders can earn points through loot boxes, level up, and receive instant rewards, while also being able to trade alone or with their peers.
About Hashed
Hashedis a global network of companies based in Seoul, Singapore, Bangalore and Silicon Valley.BlockchainA team of experts and builders. Its team believes that decentralization can not only change the global economy, but also change the basic structure of the Internet. Hashed hopes to empower innovators through investment to accelerateBlockchainAs a core technology contributor to global infrastructure, Hashed has established a network of projects and people, connecting industry pioneers with theBlockchainConnecting the knowledge and resources needed to realize potential.
About Arrington Capital
Arrington Capitalis a company mainly focusing onBlockchainArrington Capital is a digital asset management company focusing on the capital markets. Founded in 2017 by Michael Arrington, founder of TechCrunch and CrunchBase, Heather Harde, CEO of TechCrunch, and Geoffrey Arone, the company has invested in hundreds of startups around the world. Arrington Capital is an experienced international team composed of Silicon Valley veterans with deep venture capital and cryptocurrency experience. Arrington Capital's first fund was Arrington XRP Capital, which has expanded to multiple funds over time. For more information about Arrington Capital,Please click here to view.
About Aptos Labs
Aptos LabsCo-founded by Mo Shaikh and Avery Ching, Aptos Labs is committed to creating better network tools and seamless usability to bring the benefits of decentralization to the masses. Aptos Labs has raised more than $400 million and has received support from top investors including a16z, Jump Crypto,BinanceLabs, Dragonfly, PayPal Ventures, Andreessen Horowitz and Franklin Investments.
The article comes from the Internet:Merkle Trade receives $2.1 million in funding led by Hashed and Arrington Capital
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