Network dex 175m series amber group

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network dex 175m series amber group

“We have been truly impressed by the 1inch team’s pace of product innovation and are extremely excited to partner with them as they continue to build the go-to hub for the DeFi ecosystem.”

The DeFi startup will use the latest funding to navigate the regulatory space for DeFi in Europe and the US in a bid to onboard institutions into 1inch Pro, a compliant product for institutional customers.

The company will also use the fund to build new 1inch protocols, expanding the utility of the 1INCH token and scaling up the contributor team. Over the next few years, the team is expected to more than double in size.

Read Also: Trade Surveillance Firm Eventus Systems Raises $30 Million

In December 2020, the 1inch Network attracted $12 million from several major investors, including Pantera Capital, ParaFi Capital and Nima Capital.

These exchanges create a single point of failure.

“I definitely hope centralized exchanges go burn in hell as much as possible,” Vitalik Buterin said in a TechCrunch interview back in 2018.

Over the past few years, many teams started working on decentralized exchanges across different blockchains. For instance, on the Ethereum blockchain alone, people trade tokens using Uniswap, SushiSwap, PancakeSwap, etc. Thanks to liquidity pools, traders can exchange tokens directly on the blockchain.

The 1inch Network aggregates dozens of decentralized protocols so that traders can easily find the best exchange rate across multiple decentralized exchanges.
1inch competes with Matcha (0x) and ParaSwap.

Based on this Dune query, 1inch is approaching 1 million users on Ethereum — 195,000 users have interacted with 1inch over the past 30 days.

  • Blockchain security firm CertiK has completed a USD 80m Series B2 financing round, led by Sequoia, with participation from existing investors including Tiger Global, Coatue Management, and GL Ventures. The round brings CertiK’s valuation to nearly USD 1bn. “The newly raised capital coupled with revenue generated from both Skynet and Security Leaderboard, will be used for the development and operation of more innovative products,” said the press release.
  • Crypto exchange-traded product (ETP) company 21Shares has announced the listing of Polygon ETPs on exchanges Euronext Paris in EUR and USD on Euronext Amsterdam.
  • Network dex 175m series amber group2

    And over the last two years, users have traded more than $100 billion in crypto assets using 1inch.

    1inch has been transparent with me about the structure of the round. The 1inch foundation is in charge of the 1INCH token supply. This foundation has allocated a portion of the token supply to 1inch Limited for a Growth & Development Fund.
    Overall, that fund represents 14% of the total 1INCH token supply and 1inch Limited has used 8% of the supply for the Series B.

    As part of today’s Series B, new investors are acquiring tokens from the Growth & Development Fund as well as from existing investors who want to sell a portion of their investments. The Series B round was led by Amber Group with around 50 investors participating.

    Network dex 175m series amber group-ib

    DAOs. In a bid to help the project course correct, Shipyard Software recently proposed a third-party audit of SushiSwap in order to re-establish the project’s credibility.

    While trying to apply traditional valuation metrics to crypto protocols is difficult given how new the industry is, this Messari report attempts to value Curve Finance using a discounted cash flow model (DCF) and comparable analysis with Uniswap, Sushiswap, and Balancer.

    ‍ Clipper updates

    Clipper’s first community adventure, The Search for Polygon Isles, was a great success! The experience was a cross between a digital scavenger hunt and a turn-based game, and the DeFi pirates who reached the end were whitelisted for Clipper’s Polygon CLP.

    Network dex 175m series amber groupe

    Securities Fraud,” and that almost any scandal at a US public company will lead to a securities-fraud lawsuit. For better or for worse, litigation is on the horizon for DAOs and members would be wise to demand incorporation to limit their personal liability.

    Shipyard insights

    The Defiant recently published an op-ed by Mark Lurie that lays out The Case for Why DAOs Should Register as Legal Entities.

    Curious to know The Real Reason Why El Salvador Adopted Bitcoin? Mark Lurie shares his thoughts on El Salvador’s bid for geopolitical self-sovereignty with CryptoSlate.

    The latest episode of Shipyard’s “WTF Crypto?”podcast is out! This fourth installment discusses bad actors in crypto — what it takes to be a good actor in the crypto space, and the surprising ways honest market participants can end up harming the crypto ecosystems they support.

    The Series B raise was conducted via a token sale from the project’s “ecosystem development fund.”

    Read Also: OpenSea Is Now A Crypto Unicorn Valued At $1.5B

    The addition of several dozen new participants to the 1inch Network is set to lead to further decentralization of the 1inch DAO, making it more democratic by allowing everyone’s votes to matter.

    Sergej Kunz, 1inch Network co-founder, said:

    “While continuing to keep the existing DeFi audience happy by delivering state-of-the-art products, 1inch also aims to become a gateway for institutions that want to be part of the DeFi space,” .

    “The next $1 trln of assets entering DeFi will come from institutions rather than retail users, and 1inch would like to facilitate entry for them.

    Some investors include Jane Street, VanEck, Fenbushi Capital, Alameda Research, Celsius, Nexo, Tribe Capital and Gemini Frontier Fund.

    And 1inch will certainly need some money as it has run into regulatory issues. In September, 1inch started blocking U.S. IP addresses from using the app. “The geoblocking restrictions are working very effectively by restricting U.S. territories,” the company told me. That move comes just a few months after Uniswap restricted access to some tokens in the U.S.

    1inch now plans to launch 1inch Pro, a separate and permissioned service that complies with U.S.
    regulation. In particular, 1inch says this new service will comply KYC and AML regulation (‘know your customer’ and ’anti-money laundering’).

    1inch and 1inch Pro will never interact with each other, meaning that liquidity pools will be segregated.

    The first such film is to be produced by Niels Juul, a Hollywood executive producer behind Martin Scorsese’s films ‘The Irishman’ and ‘The Silence’.

  • The English Premier League is considering a partnership with a crypto platform that provides NFTs, The Times reported. It added that the League’s approach will be “slow and cautious,” and different from the fan engagement model provided by a platform such as Socios.
  • NFT ecosystem Enjin (ENJ) has announced that over 70 ecosystem partners have committed to building the “decentralized metaverse” on the Efinity platform.
  • We have already started work in that direction by attracting some key players from the traditional finance markets, and this collaboration will only accelerate over the next few years.”

    Initially, 1inch set an investment target of $70 million, but, following several developments in the space and a huge demand from valuable backers, a decision was made to increase it to $175 million.

    Tiantian Kullander, co-founder and managing partner of Amber Group, said:

    “A key part of the next phase of DeFi will be providing investors with seamless access to liquidity across different protocols and chains.

    Grayscale vs. SEC, Fidelity’s Bitcoin ETF, Investments in Metaverse, NFTs + More News

    Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news. __________

    Investments news

    • Digital asset investment company Grayscale Investments has issued a letter to Secretary of the US Securities and Exchange Commission (SEC), Vanessa Countryman, on November 29 to argue the SEC is wrong to reject spot bitcoin (BTC) exchange-traded funds (ETFs) since it has now approved three bitcoin futures ETFs, one each from VanEck, Valkyrie, and ProShares.

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