The builders behind Solana-based decentralized trade Phoenix have simply secured $20 million in a Collection A funding spherical for his or her startup Ellipsis.
Funding was led by Paradigm, with help from Electrical Capital and different trade leaders. Notably, public Ethereum figures additionally supported the event of Ellipsis. These embody Ethereum researchers Justin Drake and Mike Neuder, Tim Beiko, who runs protocol help at Ethereum Basis, and EigenLayer founder Sreeram Kannan.
The various group of buyers caught the eye of X, the place customers instantly commented on the collaboration between people from competing ecosystems.
Learn extra: Low price of Solana DeFi frees builders from constraints: Ellipsis co-founder
The youthful van Eck raises $12 million
Nick van Eck, the inheritor to funding administration agency VanEck, landed $12 million for his stablecoin startup Agora in a seed spherical led by Dragonfly Capital.
“After spending my entire profession constructing funding instances primarily based on different founders’ visions, there was no higher time or alternative to construct in direction of a future and imaginative and prescient I believed in,” van Eck posted on X. “AgoraDollar is that firm. We’re constructing a extra financially inclusive future, the place accessibility to monetary wealth preservers and creators is borderless.”
Learn extra: Ripple to problem stablecoin backed 100% by money equivalents
The corporate notes that its first product shall be a completely collateralized stablecoin that’s pegged to the US greenback. The stablecoin, named Agora’s digital greenback or AUSD, has but to launch, however the workforce remarks that it’ll differ from current product choices and can solely be obtainable to pick out markets exterior of the USA.
Different notable fundraises
- Paradigm is in talks with buyers to boost a $850 million fund.
- Sei reveals that it will likely be injecting $10 million into its NFT ecosystem.
- Merkle Commerce secured $2.1 million for a social perp DEX.
- Xion raised $25 million for an abstraction-focused blockchain.
Jack Kubinec contributed to reporting.
Don’t miss the following huge story – be a part of our free each day publication.
