January 16, 2025 Cat - DEX
GTE, a decentralized exchange (DEX) built on the MegaETH blockchain, has raised $10 million across three funding rounds. This includes $2.5 million from Cobie’s Echo platform, following $6.942 million in seed funding and $1.5 million in a pre-seed round. According to GTE co-founder Enzo Coglitore, the Echo round saw 720 investors participate within a short period.
The funding rounds were structured through simple agreements for future equity (SAFEs) with token warrants, and GTE’s valuation is placed within the “upper mid-eight-figure range.” The investment rounds involved participants such as Maven 11, Wintermute, Flow Traders, Jump Trading, and Robot Ventures.
GTE plans to operate on the MegaETH blockchain, which is designed to handle 100,000 transactions per second. The exchange is intended to deliver high-speed decentralized trading services with performance similar to centralized exchanges. GTE’s platform is currently in a private testnet phase and is scheduled to launch with MegaETH’s public testnet and mainnet later this year.
The capital raised will be used to expand the GTE team, which includes members with experience at companies like Palantir, GSR, Bitstamp, and AWS. Matteo Lunghi, GTE's other co-founder, previously worked as a tech lead at Palantir.
About GTE
Global Token Exchange (GTE) is a decentralized exchange being developed on the MegaETH blockchain, offering infrastructure for decentralized finance (DeFi). The platform integrates token creation, spot trading, and leveraged trading.
Website:https://www.gte.xyz/
X: @GTE_XYZ
About Investor
Cobie’s Echo
Echo is a blockchain investment platform founded by Jordan Fish, also known as Cobie, to facilitate community participation in funding rounds for blockchain projects.
Website: https://echo.xyz/
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