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NEAR-backed decentralized exchange Orderly Network has raised $20 million from strategic investors. This was reported to ForkLog by project representatives. Participants in the round were: Three Arrows Capital,
NEAR-backed decentralized exchange Orderly Network has raised $20 million from strategic investors. This was reported to ForkLog by project representatives.
Participants in the round were: Three Arrows Capital, Pantera Capital, Dragonfly Capital, Sequoia China, Jump Crypto, Alameda Research, GSR Ventures, MetaWeb.VC and a number of other companies.
The project was founded in 2017 and has passed the NEAR and WOO Network incubators. With the help of the latter, the startup launched the first decentralized application in the form of a trading platform user interface.
Orderly Network offers spot trading, margin trading, perpetual swaps and a lending service.
The startup will direct funding to hire new employees, expand its product line, and uplift existing employees.
The team plans to launch public loan pools to further increase liquidity. Orderly Network said that token holders will be able to lend to market makers through them and earn a stable return.
Recall that in May, the volume of venture capital funds for DeFi projects fell to $ 176.3 million, the lowest level since September 2021.
Source: Fork Log
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