BBO Exchange Secures $2.7 Million in Pre-Seed Funding Round
On January 30, BBO Exchange (BBOX), a decentralized derivative trading platform, announced the successful closure of its pre-seed funding round. The round, co-led by venture funds Hashed and Arrington Capital, raised $2.7 million in capital.
The funding round saw significant participation from key ecosystem contributors such as Consensys, CMS Holdings, Flow Traders, Manifold Trading, Mask Network, and Laser Digital (Nomura Group). It also received support from Arcane Group, Draper Dragon, Vessel Capital, Aulis Venture, Formless Capital, Press Start Capital, and One Piece Labs.
BBOX’s Aim to Augment the DeFi Space
BBOX aims to enhance the decentralized finance (DeFi) space through its unique approach to decentralized derivative trading. The platform serves as the first perpetual decentralized exchange (DEX) to incorporate Oracle Extractable Value into its liquidation process. It introduces an auction mechanism that leverages the latency in Oracle price updates.
The platform’s multi-asset, signal-driven dynamic distribution Automated Market Maker (AMM) allows Liquidity Providers (LPs) to align their price ranges with other assets while maintaining passive liquidity provision. This functionality improves market efficiency and caters to both DeFi power users and casual investors.
Future Projects for BBOX
BBOX is preparing to launch its signal-driven Automated Market Maker (AMM) on Linea, a zkEVM Layer 2 Network designed for scaling Ethereum dApps. Registration is open for participation in the BBOX private testnet. The collaboration with Consensys brings additional synergy and technological expertise to the platform.
“We believe Perpetual DEXs are one of the most profitable verticals in crypto, and we’re excited to back BBOX — a team that distinguishes itself well in a crowded, competitive market. The platform leverages Oracle Extractable Value (OEV) for liquidations and a dynamic multi-asset signaling AMM for on-chain traders while making capital work efficiently for liquidity providers. We believe the best people are leading this product — crypto-native experts with relevant experience in Traditional Finance, Quantitative Trading, and Engineering. Their collaboration with the Linea ecosystem will also bring their vision to fruition.” – Edward Tan, investor at Hashed
“We aim to provide the entire DeFi ecosystem with both the infrastructure and the liquidity layer for derivative trading, and our ultimate goal is to create a venue where users can trade everything, earn on everything, and do both very effectively. This raise is a testament to our vision and the trust investors have in our ability to bring something fresh and exciting to the DeFi derivatives space.” – Ray, founder of BBOX
The co-founders of BBOX are Ray, who previously worked with Pyth Network and Jump Trading’s crypto team, and Olivia, a former senior software engineer at Coinbase. BBOX was selected as one of the 12 projects for Binance Labs’ incubation season 6.
Hot Take: BBO Exchange Sets Its Sights on Revolutionizing Decentralized Derivative Trading
BBO Exchange (BBOX) has successfully secured $2.7 million in pre-seed funding to support its mission of augmenting the DeFi space through innovative decentralized derivative trading. With key investors such as Hashed and Arrington Capital leading the funding round, BBOX aims to introduce unique features like Oracle Extractable Value integration and a dynamic multi-asset signaling AMM to improve market efficiency and cater to both power users and casual investors.
The upcoming launch of BBOX’s signal-driven AMM on the Linea network, in collaboration with Consensys, further adds to the platform’s potential for success. With a team of experts from various fields, including Traditional Finance, Quantitative Trading, and Engineering, BBOX is poised to bring something fresh and exciting to the DeFi derivatives space.
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