{"id":275341,"date":"2021-06-15T21:00:00","date_gmt":"2021-06-15T18:00:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/defi-exchange-dydx-raises-65m-in-series-c-fundraiser\/"},"modified":"2021-06-15T21:00:00","modified_gmt":"2021-06-15T18:00:00","slug":"defi-exchange-dydx-raises-65m-in-series-c-fundraiser","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/defi-exchange-dydx-raises-65m-in-series-c-fundraiser\/","title":{"rendered":"# DeFi exchange dYdX raises $65M in Series C fundraiser"},"content":{"rendered":"

“# DeFi exchange dYdX raises $65M in Series<\/a> C fundraiser <\/strong>”
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Venture firms from across the blockchain industry have thrown their weight behind decentralized exchange developer dYdX, offering further evidence that investors are eyeing a further expansion of the decentralized finance (DeFi) ecosystem.<\/p>\n

The Series C round generated $65 million in direct funding for dYdX, with venture fund Paradigm leading the raise. HaskKey, Electric Capital, Delphi Digital and others also participated in the raise. <\/p>\n

The exchange also received direct support from eight liquidity providers, including Kronos Research, MGNR, Menai Financial Group, QCP Capital, CMS Holdings, CMT Digital, Sixtant and Finlink Capital.<\/p>\n

Past investors include Polychain Capital, Three Arrows Capital and Wintermute, among others. <\/p>\n

Wintermute CEO Evgeny Gaevoy described dYdX as a pioneer in layer-two DEX solutions, adding:<\/p>\n

\u201cIt offers decentralization and non-custodial trading of perpetual futures without any of the drawbacks that similar solutions built on layer-1 Ethereum face.\u201d<\/p><\/blockquote>\n

The growth of dYdX reflects the broad expansion of decentralized finance during the 2020\u20132021 bull market. Over the past five months, the company has generated over $2.2 billion in trade volumes from over 11,000 unique traders. Its total value locked reached $40 million across more than 13,000 unique addresses. <\/p>\n

Related:\u00a0Sights set on mainstream adoption: Is another DeFi summer on the way?<\/em><\/strong><\/p>\n

The DeFi market has experienced a broad cooldown in recent months due to the ongoing selling pressure faced by Bitcoin (BTC) and other cryptocurrencies. Industry data shows<\/a> that the DeFi market peaked in mid-May before undergoing a broad correction. The total value locked in the ecosystem is now $127.2 billion, which is around 20% below last month\u2019s peak.<\/p>\n