BBO Exchange, a decentralized derivative exchange, has successfully secured $2.7 million in its pre-seed funding round, according to an announcement made by the company today. The funding was led by Hashed and Arrington Capital.
A diverse group of investors participated in the funding round, underscoring growing interest in decentralized finance (DeFi) initiatives. Notable contributors include Consensys, CMS Holdings, Flow Traders, Manifold Trading, Mask Network, and Nomura’s Laser Digital.
BBO Exchange distinguishes itself with its automated market maker (AMM) model, allowing liquidity providers to align price ranges with other assets. This approach mirrors the strategies employed by proactive market makers while offering the simplicity of passive liquidity provision.
The exchange is actively preparing for the launch of its signal-driven AMM on Linea, a zkEVM Layer 2 Network designed to scale Ethereum decentralized applications (dApps). Registration for the exchange’s private testnet is now open.
Ray, the founder of BBO Exchange, expressed ambitious goals for the platform, stating, “We aim to provide the entire DeFi ecosystem with both the infrastructure and the liquidity layer for derivative trading, and our ultimate goal is to create a venue where users can trade everything, earn on everything, and do both very effectively.”
The successful pre-seed funding round signifies a significant milestone for BBO Exchange, positioning the platform to further develop its infrastructure and expand its offerings within the rapidly evolving DeFi landscape. With strong backing from prominent investors, BBO Exchange is poised to make notable strides in decentralized derivative trading.