Quick take:
- The funding was structured as equity and closed in March, according to a report by The Block.
- Liquid aggregates multiple decentralised perpetual futures trading platforms, including the top two by all-time volume, Hyperliquid and Lighter.
- Liquid claims to have facilitated over $600 million in trading volume with more than 2 million sign-ups already on the Waitlist.
Perpetual Futures decentralised exchange aggregator platform Liquid has raised $7.6 million in a seed round led by Paradigm, with participation from General Catalyst, Alpen, alongside angel investors from Ramp, Cursor, and Cognition, the company announced on Monday.
According to the report by The Block, the funding was structured as equity and closed in March within five days. Valuation and details about directorship and the board were not disclosed.
Liquid’s Perp DEX platform aggregates multiple decentralised perpetual futures trading platforms, including the top two by all-time volume, Hyperliquid and Lighter, as well as Ostium, into a single non-custodial app that offers, among other things, leverage of up to 40x whilst reducing trading fees by up to 90%, according to information on its website.
The company also claims to have facilitated over $600 million in trading volume with more than 2 million sign-ups already on the Waitlist.
Perpetual Futures DEX platforms have gained popularity this year with the rise of Hyperliquid, which last month filed with the SEC to raise $1 billion via a SPAC merger for a HYPE-focused treasury.
Though recently facing strong rivalry from Lighter and Aster, Hyperliquid maintains its spot as the biggest Perp DEX with over $308 billion in volume. Lighter, also featured on Liquid, has risen to command a total volume of $278 billion, while Aster boasts $258 billion. Overall, Perpetual Futures DEX volume now stands at more than $1.2 trillion, according to data by The Block.
Commenting on his company’s strategy of combining the best features of multiple venues, letting traders manage all positions in one place, Liquid founder Franklyn Wang said: “We believe a unified frontend allows us to achieve the ultimate user experience while giving customers flexibility under the hood.”
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