The decentralized exchange Orderly Network, running on the NEAR blockchain, has raised $20 million from strategic investors.This was reported to ForkLog by representatives of the project.
The participants of the round were: Three Arrows Capital, Pantera Capital, Dragonfly Capital, Sequoia China, Jump Crypto, Alameda Research, GSR Ventures, MetaWeb.VC and a number of other companies.
The project was founded in 2017 and passed the NEAR and WOO Network incubators. With the help of the latter, the startup launched the first decentralized application in the form of a trading platform user interface.
Orderly Network offers spot trading, margin trading, perpetual swaps, and a lending service.
The startup will direct funding to hire new employees, expand its product line and improve existing ones.
To further improve liquidity, the teamplans to launch public lending pools. Token holders will be able to lend to market makers through them, receiving a stable return, the Orderly Network said.
Recall that in May, the volume of venture capital funding for DeFi projects fell to $176.3 million, the lowest level since September 2021.
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