CryptoNinjas » Decentralized exchange Hashflow closes $3.2M seed backed by Dragonfly Capital and Electric Capital

Hashflow, a decentralized exchange connecting traders with crypto market makers, announced it has closed a seed funding round of $3.2 million from leading venture capital firms and angel investors.

The round was led by Dragonfly Capital and Electric Capital and joined by IDEO Ventures, Alameda Research, Metastable, Galaxy Digital, Unanimous Capital, and angels including Balaji Srinivasan, Kain Warwick, & Ryan Sean Adams.

Using Hashflow, traders can receive price quotes directly from market markers and broadcast trades on-chain using Web3 wallets in a fully trustless manner. By replacing AMM bonding 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 provides access to the expanding DeFi market while allowing full control over their inventory and pricing strategies. Until now, market makers have had to deploy capital in public liquidity pools, use pre-defined pricing functions, and pay heavy gas fees to change strategies on-chain.

Jon Kol, Director at Galaxy Digital, a leading cryptocurrency investment firm and market maker, commented: “Hashflow is the first project we’ve backed that seamlessly allows market makers to quote prices effectively to DeFi traders.”

With Hashflow, market makers can use bespoke pricing strategies and bridge them on-chain using digital signatures. In the coming weeks, Hashflow plans to integrate more market makers and add additional asset pairs that dominate on-chain trading volumes. General audiences will be able to access Hashflow and trade on-chain with market makers by the end of Q2.

CryptoNinjas » Decentralized exchange Hashflow closes $3.2M seed backed by Dragonfly Capital and Electric Capital

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