SANTA MONICA, California, April 30, 2021 / CNW / – Hashflow, a decentralized exchange connecting DeFi traders with major players in the crypto market, has closed a round of seed funding for $ 3.2 million major venture capitalists and angel investors. The round was led by Dragonfly Capital and Electric Capital, and joined by IDEO Ventures, Alameda Research, Metastable, Galaxy Digital, Unanimous Capital and Angels including Balaji Srinivasan, Kain warwick, & Ryan sean adams.
Hashflow announcement $ 3.2M A seed round to bring professional market makers to DeFi
Decentralized exchanges on Ethereum have grown rapidly over the past year with more than 215 billion dollars traded on DeFi alone in the first quarter of 2021. This growth can be attributed to the popularity of Automated Market Makers (AMMs) which have catalyzed DeFi’s explosive growth by providing a straightforward, permissionless on-chain trading experience.
Hashflow builds on this foundation laid by AMMs, by connecting DeFi traders with the main players in the crypto market. Using Hashflow, traders can receive quotes directly from market markers and broadcast on-chain trades using Web3 portfolios in a completely trustless manner. By replacing AMM bond curves with professional market makers, Hashflow offers traders better prices, no slippage, and the lowest gas costs of any decentralized exchange on Ethereum.
For market makers, Hashflow provides access to the expanding DeFi market while allowing full control over their inventory and pricing strategies. So far, market makers have had to deploy capital in public liquidity pools, use pre-defined pricing functions, and pay heavy gas fees to switch strategies on-chain. With Hashflow, market makers can use tailor-made pricing strategies and chain them together using digital signatures. This gives market makers full control over their capital and flexibility to adapt to market conditions, using strategies informed by years of experience in centralized markets.
Jon kol, Director of Galaxy Digital, a leading cryptocurrency investment firm and market maker, commented: “Hashflow is the first project we have supported that transparently enables market makers to quote prices effectively to DeFi traders. “
Hashflow launched its closed private alpha product this week, with market makers offering price quotes to traders on the Ethereum mainnet. In the coming weeks, Hashflow plans to onboard more market makers and add additional asset pairs that dominate on-chain trading volumes. The general public will be able to access Hashflow and interact on-chain with market makers by the end of the second quarter.
To sign up for the private alpha and start updates, please visit www.hashflow.com.
Show original content to download multimedia:http://www.prnewswire.com/news-releases/hashflow-announces-3-2m-seed-round-to-bring-professional-market-makers-to-defi-backed-by-dragonfly-capital-and- electric-capital-301280935.html
Show original content to download multimedia: http://www.newswire.ca/en/releases/archive/April2021/30/c7708.html