Decentralized Derivative Trading Platform BBO Exchange Raises $2.7 Million in Pre-Seed Funding
Singapore-based decentralized derivative trading platform, BBO Exchange (BBOX), has successfully completed its pre-seed funding round, raising $2.7 million. The round was co-led by venture funds Hashed and Arrington Capital, and attracted investments from major players in the ecosystem such as Consensys, CMS Holdings, Flow Traders, and more.
BBOX aims to revolutionize the DeFi space with its unique approach to decentralized derivative trading. The platform utilizes Oracle Extractable Value in its liquidation process, pioneering an innovative auction mechanism that takes advantage of latency in Oracle price updates.
The platform’s multi-asset, signal-driven dynamic distribution AMM allows liquidity providers to align their price ranges with other assets, enhancing market efficiency. BBOX is also preparing to launch its AMM on Linea, a zkEVM Layer 2 Network for scaling Ethereum dApps.
Investor Confidence in BBOX
Edward Tan of Hashed expressed confidence in BBOX’s profitability as a perpetual DEX and praised the team’s expertise in Traditional Finance, Quantitative Trading, and Engineering. Michael Arrington of Arrington Capital believes that BBOX’s modernization of liquidation and pricing efficiency will make a significant impact on the market.
BBOX’s Mission and Team
The founders of BBOX, Ray and Olivia, aim to create a venue where users can effectively trade and earn on everything. Ray is a former contributor to Pyth Network, while Olivia is a former senior software engineer at Coinbase. The project was also selected by Binance Labs for incubation.
About BBO Exchange
BBO Exchange is focused on becoming the ultimate derivative trading platform in DeFi. With a user-centric approach and advanced technologies, BBOX aims to redefine DeFi trading and make it more accessible. The launch of BBOX’s AMM on Linea is the first step in this journey.
Hot Take: BBO Exchange Sets the Stage for DeFi Derivatives
BBO Exchange’s successful pre-seed funding round and strategic partnerships with industry leaders demonstrate confidence in its vision to revolutionize decentralized derivative trading. With its unique auction mechanism and dynamic distribution AMM, BBOX aims to enhance market efficiency and provide users with a user-friendly trading experience. The upcoming launch on Linea further solidifies BBOX’s position as a leader in the DeFi space. As the platform continues to develop and innovate, it has the potential to shape the future of DeFi derivatives.
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