Zeta Markets, a decentralized exchange (DEX) specializing in perpetual trading, has recently announced the successful completion of a strategic funding round, raising $5 million. This funding will accelerate the development of the first DeFi L2 on Solana, as stated by the company. With this round of financing, Zeta’s capital has now reached $13.5 million, contributing to the company’s mission of creating the ultimate all-in-one trading platform.
Leading the funding round is Electric Capital, with participation from DACM, Airtree Ventures, and Selini Capital. Additionally, notable angel investors such as Anatoly Yakovenko (CEO of Solana Labs), Mert Mumtaz (Helius), Richard Wu (Tensor), Marius Ciubotariu (Kamino), Stepan Simkin (Squads), Alex Smirnov (Debridge), Genia Mikhalchenko (Pyth), Nom (Bonk), JMR Luna (Wintermute), and others have also shown their support. Despite the uncertain market conditions, Zeta Markets expresses gratitude for the backing of its investors.
Avichal Garg, co-founder of Electric Capital, commented on Zeta’s commitment to Solana and its ambitious L2 roadmap. He praised the team’s focus on building decentralized solutions that address real user problems and acknowledged the significant progress they have made this year. Electric Capital is proud to continue supporting Zeta as they expand their vision beyond their successful DEX.
Zeta’s layer-2 solution will prioritize centrally capped order books (CLOB) and facilitate direct Solana bridging to access the growing DeFi liquidity pool. Additionally, the platform aims to address user experience challenges by abstracting gas costs and simplifying transaction signing.
Please note that the opinions expressed in this article are for informational purposes only and should not be considered financial or investment advice. Investing in cryptocurrencies carries the risk of financial loss.
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