TechFlow News, DeFi protocol Elixir has raised $7.5 million in a Series A round at a $100 million valuation, led by Hack VC, with participation from NGC Ventures, AngelList Ventures, Bloccelerate, and angel investors from Ledger Prime, Genesis Trading, and Hudson River Trading, aiming to enhance liquidity for decentralized order book exchanges.
Elixir's current 17-member team includes veterans from companies such as Gemini, Hudson River Trading, and Tokensoft.
The team stated that Elixir allows users to directly provide liquidity to trading pairs on order book exchanges and earn maker rewards under risk-return profiles similar to those of AMMs.
Elixir’s delegated proof-of-stake protocol is expected to launch on mainnet within the coming weeks and will integrate with decentralized exchanges such as Vertex, Bluefin, and WooFi. According to the team, Elixir also plans to support permissionless market functionality on dYdX V4 early next year.
