Labs 15m Pantera TheBlock has led a $15 million Series A round of 0x Labs, a startup building a decentralized game engine. This is a large investment for the company, as Pantera was one of its first VCs to back the company. Pantera has also co-led a number of deals in the blockchain gaming and NFTs space, and has invested in over 24 companies.
0x Labs Raises $15 Million
Labs 15m Pantera TheBlock is the company behind the 0x exchange protocol and the decentralized exchange infrastructure. They recently raised $15 million in a Series A round of funding led by Pantera Capital. The funds will be used to build out their product and expand their support for other blockchains and DEXs. The company plans to continue adding new features and integrating them as they come available. It will also expand its support for NFT swaps and expand the number of chains it integrates.
Operations & Grow Globally
The new funding will help Labs 15m Pantera TheBlock expand its operations and grow globally. The company also plans to launch a professional aggregation service and trading desk business. It will also build its API, which powers popular exchange applications such as ShapeShift, MetaMask, and Zapper.
Labs 15m Pantera TheBlock plans to raise $100 million more in funding for its next round. It previously raised $11 million in a seed round led by Alphabet. The company aims to build a better system for cryptocurrencies. It has worked with large financial services companies and hedge funds and plans to extend its service to these companies.
Market Makers & NFTs
Solana has only been in beta for a few months, but already the decentralized exchange has seen a significant number of projects built on the protocol. These projects include automated market makers and NFTs. In addition to lending, Solana is also expected to support trading.
The protocol will enable users to borrow from lending peers while also generating yield for pooled assets. Its high tx throughput and 1 second block finality ensure minimal latency when setting up LPs. It is possible to get real-time data through oracle feeds and use reliable tools to analyze transactions. However, transactions can be rejected by geographic regions.
Early Stages
While the technology is still in its early stages, the company’s initial clients are already on the platform. They include the top projects in the Solana ecosystem and legacy financial service firms. The company plans to launch a public beta version of the product in the next three to four weeks, and an actual product is expected to be launched in the first quarter of 2019.
In a ZRX token sale, 0x Labs raised $24 million. Greylock Partners led the funding round. The company now has 62 employees. Its products include an API that splits transactions between decentralized exchanges. It also supports Matcha, the industry’s second largest decentralized exchange aggregator. Moreover, it is working in the NFT space.
0x Labs is a cryptocurrency startup that was launched in October 2016. The company’s initial mission was to create a standard way for trading Ethereum-based tokens. The 0x protocol allowed users to buy, sell, and exchange Ethereum tokens with other cryptocurrencies and other tokens. This has improved the usability of decentralized exchanges. It also allows users to create their own crypto asset market.
ZRX Token Sale
0x raised $24 million from its ZRX token sale in 2017. The company also raised $15 million in a Series A round led by Pantera Capital. Coinbase, the largest cryptocurrency exchange in the United States, also participated in the sale. Coinbase is now launching a non-fungible token marketplace. The company will use the x technology to power the marketplace.
The startup 0x Labs raised $15 million in a Series A round led by Pantera Capital, which will be used to launch its cryptocurrency exchange. The funding comes at a crucial time for the decentralized exchange protocol. January was the most active month for decentralized exchanges, with volume at an all-time high. Pantera Capital’s investment is expected to help the company reach its full potential.
Labs 15m Pantera TheBlock new funding will help the firm build out its matching protocol and its aggregation API. It also plans to continue working on its Matcha platform, which will aggregate liquidity across multiple DEXs and provide the most competitive price for users. The startup frames its next steps as a series of steps toward a more open financial system.
Final Words:
The funding comes as the company continues to expand its product offerings and plans to integrate more blockchains. Currently, it offers a Matcha token search, a 0x API liquidity service, and the 0x Protocol global backbone. In the future, the company plans to integrate new chains, expand cross-chain functionality, and support NFT swaps. Furthermore, 0x Labs will help developers integrate DEX functionality into their applications.
