Quick take:
- Cyber Fund and Kraken Ventures co-led the pre-seed round, while SevenX Ventures led the seed round.
- The pre-seed closed at a valuation of $20 million, while the seed round values the protocol at $40 million.
- Other investors in the rounds include Semantic Ventures, Figment Capital and Robot Ventures, with Anthony Sassano and Sandeep Nailwal joining as angel investors.
Valantis, a modular DEX protocol that provides a modular framework for developers to build DEXes using composable modules has raised $7.5 million across two rounds. The company revealed it raised $3.5 million in April in a pre-seed round led by Cyber Fund and Kraken Ventures, while SevenX Ventures led the seed round closed in September.
The fundraising also attracted participation from Semantic Ventures, Figment Capital and Robot Ventures, with Anthony Sassano and Sandeep Nailwal joining as angel investors.
The pre-seed valued Valantis Labs at $20 million, while the seed round was closed at a valuation of $40 million, co-founder Deven Matthews told The Block. Mattews said both rounds were structured as simple agreements for future equity with token warrants.
Differentiating what his company offers from Uniswap, Mattews explained that while Uniswap leverages hooks to allow developers to customise and extend the behaviour of liquidity pools, “Modules are composable, more intuitive and more powerful than hooks.”
“If one developer builds a dynamic fee mechanism, and another builds a new automated market maker (AMM) curve, they can be combined easily without any smart contract changes,” he said.
According to the announcement, HOT-AMM, the first modular DEX built on the Valantis protocol has already facilitated over $50 million in trading volume.
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