D8X Raises $1.5 Million in Pre-Seed Round to Launch Decentralized Derivatives Trading Platform
D8X, an institutional-grade decentralized exchange (DEX) for derivatives on Polygon zkEVM, has announced a successful pre-seed round, securing $1.5 million in funding. The round was led by Polygon Ventures, with participation from other notable investors including Axelar Network and Swissborg Ventures. The capital raised will enable D8X to launch its decentralized derivatives trading platform in the second half of 2023, offering a white-labeling solution to trading partners seeking access to powerful derivatives products.
Key Points:
– D8X aims to bridge the gap between centralized finance (CeFi) and decentralized finance (DeFi) by providing a white-label solution to centralized players who want to offer decentralized crypto derivatives to their clients. This eliminates the need for them to develop in-house market-making and trading engines.
– The D8X trade engine and shared liquidity will power partners’ own front ends, allowing them to earn fees as brokers. This approach offers cost-efficient hedging and competitive products in line with centralized exchanges.
– D8X’s on-chain solutions also enable contract trading, allowing other DeFi protocols to hedge on-chain more efficiently. The platform’s perpetuals can be calibrated for a wide range of assets and support linear, inverse, and quanto perpetuals.
– As the first business-to-business (B2B) DEX built on Polygon’s zkEVM, D8X leverages zero-knowledge proofs to reduce transaction fees, enhance security, and scale operations across the Polygon and Ethereum networks.
– D8X follows regulatory guidance from Switzerland’s financial market regulator FINMA, positioning itself as a fully decentralized DEX that adheres to regulatory standards.
Hot Take:
D8X’s successful pre-seed round demonstrates the demand for decentralized derivatives trading solutions in the crypto market. By offering a white-labeling solution, D8X enables centralized players to tap into the benefits of DeFi without the need for extensive development and expertise. With its innovative financial engineering and risk management approach, D8X is poised to revolutionize the way decentralized derivatives are traded. Its use of zero-knowledge proofs and adherence to regulatory standards further solidify its position as a leader in the space.
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