September 17, 2024
LogX, a decentralized trading platform and on-chain consumer Super App, has secured $4 million from new investors and several angel investors, bringing its total funding to $10.1 million. The recent funding round saw contributions from Hashed Emergent, Cumberland VC, Saison Capital, Gate Labs, DWF Ventures, Antler, Coinswitch Ventures, Wagmi Ventures, and Kairos Capital, along with angel investors like Charles and Verity from Espresso Systems and Ryan Lee, CEO of Orderly Network. This follows a previous $6.1 million seed round supported by Coinbase Ventures, Sequoia Capital, and others.
Project | Latest Raise | Latest Raise Date | Stage | Category |
|---|---|---|---|---|
LogX | $4M | September 17, 2024 | Strategic Round | DeFi |
Decentralized exchanges (DEXs) have gained traction, especially after the collapse of major centralized platforms like FTX. DEXs operate autonomously, using algorithms to facilitate digital asset trading without human intervention. Perpetual swaps, unique to the crypto world, function similarly to futures contracts but without an expiration date.
Akshit Bordia, Founder of LogX, expressed gratitude for the trust from financial backers, partners, and users. With the new capital, LogX aims to expand its product line and introduce leveraged prediction markets across more than 50 blockchains. The platform has achieved significant milestones, surpassing $20 billion in trading volume and onboarding over 1 million users within ten months of its launch in July 2023. LogX plans to further expand by launching on the TON blockchain later this year, aiming to reach over 100 million users with its prediction market trading.
About LogX
LogX is a decentralized trading platform designed to provide a seamless and efficient trading experience for digital assets. It leverages an innovative AMM-based DAMN pool infrastructure, which allows for scalability across multiple blockchain networks. This setup ensures that users can trade without worrying about managing gas fees or multiple transactions per trade. LogX supports a variety of trading products, including derivatives and prediction markets, all within a user-friendly interface.
Website: https://www.logx.trade/
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About Investor
The recent funding round saw contributions from Hashed Emergent, Cumberland VC, Saison Capital, Gate Labs, DWF Ventures, Antler, Coinswitch Ventures, Wagmi Ventures, and Kairos Capital, along with angel investors like Charles and Verity from Espresso Systems and Ryan Lee, CEO of Orderly Network.
A central focus of investor activity in the cryptocurrency space is the evaluation of new crypto projects to invest in, particularly those with huge potential. This blog provides insight into what new ventures are benefiting from venture capital support (VC funding in crypto). These new crypto projects, funded by professional investors, can dictate the next narrative in crypto and the next big crypto movers.
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