Hashflow, a decentralized exchange that connects DeFi traders with top crypto market makers, has a $ 3.2 million seed funding round from leading venture capital firms and angel investors completed. The round was led by Dragonfly Capital and Electric Capital and accompanied by IDEO Ventures, Alameda Research, Metastable, Galaxy Digital, Unanimous Capital and Angels such as Balaji Srinivasan , Kain Warwick and Ryan Sean Adams .
Hashflow.com
Decentralized exchanges on Ethereum have seen rapid growth in the last year: in the first quarter of 2021 alone, over 215 billion dollars were traded on DeFi. This growth can be attributed to the popularity of Automated Market Makers (AMMs) who catalyzed the explosive growth of DeFi by offering an easy and permit-free on-chain trading experience.
Hashflow builds on this foundation laid by AMMs by connecting DeFi traders with top crypto market makers. With the help of Hashflow, traders can get quotes directly from market markers and transfer trades on-chain with Web3 wallets in a completely trustless manner. By replacing the AMM binding curves with professional market makers, Hashflow offers traders better prices, zero slippage and the lowest gas costs of any decentralized exchange on Ethereum.
For market makers, Hashflow offers access to the expanding DeFi market while allowing full control over their inventory and pricing strategies. Until now, market makers had to use their capital in public liquidity pools, use predefined pricing functions and pay high gas fees in order to change their strategies on-chain. With Hashflow, market makers can apply tailor-made pricing strategies and bridge these on-chain with the help of digital signatures. This gives market makers full control over their capital and the flexibility to adapt to market conditions using strategies based on years of experience in centralized markets.
Jon Kol , director at Galaxy Digital, a leading cryptocurrency investment firm and market maker, commented, "Hashflow is the first project we supported that seamlessly enables market makers to effectively quote DeFi traders."
Hashflow launched its closed private alpha product this week, with market makers offering price quotes for traders on the Ethereum mainnet. In the coming weeks, Hashflow plans to integrate more market makers and add additional asset pairs that will dominate the on-chain trading volume. The general audience will be able to access Hashflow and trade on-chain with market makers by the end of Q2.
To register for the private alpha and launch updates, please visit www.hashflow.com .
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