April 10, 2024
Stream Trading, a developer of a crypto derivatives exchange platform on the Ethereum blockchain, has successfully raised $1.5 million in a seed funding round. The round was led by Polychain, with participation from a number of angel investors. This funding round values the company at $20 million.
Project | Latest Raise | Latest Raise Date | Stage | Total Raise | Lead Investor | Category |
|---|---|---|---|---|---|---|
Stream Trading | $1.5M | Apr 10, 2024 | Seed | $1.5M | Polychain | Trading |
The funds will be used to expand Stream Trading’s operations and further develop its platform. Stream Trading offers depositors exposure to high-yield rate arbitrage trades, charging a 10% or higher fee for its services. The protocol is designed to become a decentralized perpetuals exchange, aiming to compete with established names in the DeFi derivatives industry such as dYdX and Vertex.
Stream Trading emerged from beta testing recently and has already accumulated $5 million in total value locked (TVL). This rapid growth has positioned the company on the verge of profitability. The platform focuses on optimizing funding rates rather than simply reducing swap fees, which is a departure from the strategies of many existing DeFi protocols.
Co-founders Diogenes Casares and Solal Afota have rapidly built a team to capitalize on the current crypto bull market, which has benefited trading platforms across the DeFi space. Stream Trading also integrates the Eigenlayer restaking protocol, which provides economic security and enables low node count and higher throughput.
Stream Trading aims to provide capital-efficient and low-latency software for optimal performance in the DeFi sector. By leveraging Eigenlayer’s capabilities, Stream Trading ensures robust economic security while maintaining high operational efficiency.
About Stream Trading:
Stream Trading is a crypto derivatives exchange platform that operates on the Ethereum blockchain. The platform offers users exposure to high-yield rate arbitrage trades and aims to become a leading decentralized perpetuals exchange. Stream Trading focuses on optimizing funding rates to provide better returns for its users. The company is based in Redwood City, California, and is positioned to compete with established names in the DeFi derivatives industry.
Website: https://streamprotocol.money/
X Account: @StreamDefi
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About Investor
Investor: Polychain Capital
Description: Polychain Capital is a venture capital firm that specializes in investing in blockchain technology and digital assets. Founded in 2016, Polychain has grown to become one of the most prominent investors in the crypto space. The firm focuses on supporting projects that aim to advance the adoption and development of decentralized technologies.
Location: United States
Website: https://polychain.capital
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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