Labs 15m Series Pantera, the startup behind the decentralized exchange protocol, has raised $15 million in a Series A equity round led by Pantera Capital. The new funding will help the company to accelerate its global expansion plans. The company will use the funds to continue building its team and infrastructure.
Exchange Protocol and ZRX Token
Labs 15m Series Pantera, a startup behind the 0x decentralized exchange protocol and ZRX token, has raised $15 million in Series A funding led by Pantera Capital. The funds will be used to develop its platform and expand globally. It plans to build a trading desk business and a professional aggregation service. The company also plans to further develop its decentralized exchange API, which powers ShapeShift, MetaMask, and also Zapper. This technology will allow developers to integrate exchange functionality into their apps.
Binance Labs
Labs 15m Series Pantera startup plans to raise another $100 million by 2020 to expand its services to large financial services firms and also hedge funds. In December, it raised $12 million from Pantera Capital. The company also raised $2.8 million in seed funding led by Binance Labs.
Exchange Infrastructure
Labs 15m Series Pantera Protocol is a decentralized exchange infrastructure layer that allows users to exchange assets over several blockchains. It also serves as an aggregator, matching liquidity from other decentralized exchanges and also delivering the lowest price across all these networks. During its first six months of operation, the 0x Protocol API generated more than $2.7 billion in trades.
Peer-to-Peer Exchange
0x Protocol is a peer-to-peer exchange that supports seven major blockchains. Its infrastructure is easy to integrate and also allows developers to build in-app marketplaces using its API. The startup is also planning to expand its peer-to-peer NFT trading protocol to support more blockchains.
The Series A funding round for 0x Labs comes at a time when the crypto market is experiencing a boom. In January, decentralized exchanges recorded their highest volume in history. This has led to an interest in non-custodial exchange protocols.
Dedicated Tools & Services
0x Labs’ new funding will allow the company to expand globally. Its ambitious goal is to make blockchain projects easier to build by offering dedicated tools and services to accelerate the development process. Its platform currently serves more than a million users across 200 countries. The services have been used by applications like the Binance Wallet and Opera web browser.
While a few other decentralized finance startups have received Series A financing, this is the largest of all. It has raised over $16 million in total. This raises its valuation to more than $500 million. Pantera Capital is one of the company’s investors. Pantera Capital has also invested in The Block.
San Francisco
0x Protocol was founded in San Francisco in 2016. It is a decentralized exchange protocol powered by ZRX tokens. The company has 32 members in its core team with diverse backgrounds, including finance and engineering. Its co-founders are Will Warren and Amir Bandeali, who are both university graduates with degrees in engineering. Will Warren studied mechanical engineering at UC San Diego and Amir graduated from the University of Illinois. The co-founders also have a team of business strategists and engineers who come from various companies including Coinbase, Polychain Capital, and Pantera Capital.
Will Warren is 0x’s co-founder, and Amir Bandeali is the CTO. Together, they have experience in the technology industry and have served as technical advisor to various projects. Their ICO sold out in 24 hours, raising $24 million in one day. The project utilizes off-chain relayer technology to make transactions faster and cheaper. The 0x protocol has applications in portfolio management platforms, OTC trading desks, and other digital marketplaces.
ZRX Coins
To store your ZRX coins, you can use one of the popular cryptocurrency wallets. Either of these options is secure and also convenient. MyEtherWallet is a secure, easy-to-use wallet. Users can send ZRX tokens to this wallet using their private key, 2FA, and email verification. Using a secure wallet is essential to prevent hackers from stealing your crypto.
The ZRX token is the native currency of 0x, and it is an ERC-20 (Ethereum) token. It serves as the platform’s currency and also as a transaction fee on the platform. It also serves as a form of governance, with ZRX holders having the right to vote on protocol changes. The project was founded in 2016 by Will Warren and Amir Bandeali and has since released its whitepaper.
Conclusion:
ZRX token holders can participate in staking for liquidity rewards. Users can form staking pools and share their rewards in proportion to their stakes. ZRX token holders can then trade their accumulated ZRX tokens for ETH. Additionally, they can participate in governance, voting on changes to the smart contracts.
