TechFlow News — Decentralized derivatives exchange dYdX has announced a $10 million Series B funding round led by Three Arrows Capital and DeFiance Capital, with participation from Wintermute, Hashed, GSR, SCP, Scalar Capital, Spartan Group, RockTree Capital, and existing investors including a16z, Polychain Capital, Kindred Ventures, 1confirmation, Elad Gil, and Fred Ehrsam.
Reportedly, the funds will primarily be used to add new assets and features to perpetual contracts, decentralize more control to users, partner with infrastructure firms to bridge the gap between CeFi and DeFi, strategically invest in international growth markets—particularly Asia, with a focus on China—and continue team expansion. dYdX stated that since early 2021, its cumulative trading volume has exceeded $3.5 billion. In February 2021, it expects to integrate StarkWare’s Layer-2 solution based on zero-knowledge proofs for cross-margin trading of perpetual contracts, and will soon launch an Alpha test version.
