August 21, 2024
BSX Exchange, a DeFi derivatives protocol on Ethereum’s Layer 2 network Base, has secured $6.2 million in pre-seed and seed funding. The recent $4 million seed round was led by Blockchain Capital, while the $2.2 million pre-seed round from a year ago was announced alongside it.
Project | Latest Raise | Latest Raise Date | Stage | Total Raise | Lead Investor | Category |
|---|---|---|---|---|---|---|
BSX Echange | $4M | August 21, 2024 | Seed, Pre-Seed | $6.2M | Blockchain Capital | DeFi |
Investors in these rounds include Bankless Ventures, No Limit Holdings, Cadenza Ventures, Breed VC, and Arthur Hayes’ family office Maelstrom. Angel investors feature notable names like Zach Segal from Coinbase, Tommy Shaughnessy from Delphi, and Isaiah Washington from CoinFund.
The funding rounds were structured as a simple agreement for future equity (SAFE), providing investors with token warrants. As part of the deal, Arthur Hayes joined as an advisor, and Blockchain Capital gained a board seat representative or observer.
About BSX Echange
BSX Exchange is a decentralized platform for trading cryptocurrency derivatives, like options and perpetual futures. Built on Ethereum’s Layer 2 network, it offers low transaction fees, real-time portfolio management, and a seamless trading experience with features like 1-click trading. The platform is designed to be fast and user-friendly, catering to both individual and institutional traders.
Website: https://www.bsx.exchange/
About Investor
Investor: Blockchain Capital
Blockchain Capital, founded in 2013 by brothers Paul Bartlett Stephens and William Bradford Stephens, is a venture capital firm based in San Francisco, California. It was the first venture capital firm exclusively focused on investing across the blockchain ecosystem. The firm is sector-specific but invests at multiple stages, seeking to gain diverse exposure to the blockchain economy.
The company has pioneered the world’s first tokenized investment fund and the blockchain industry’s first security token, the BCAP. Blockchain Capital has financed over 170 companies and projects since its inception, including notable category leaders such as Opensea, Kraken, Ethereum, and Coinbase.
Location: San Francisco, CA
Website/s: https://www.blockchaincapital.com/
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