BBO Exchange, a decentralized derivatives exchange, has raised $2.7 million in its pre-seed funding round led by Hashed and Arrington Capital, the company announced today.
In a statement shared with The Block, BBOX said the funding round also attracted participation from investors including Consensys, CMS Holdings, Flow Traders, Manifold Trading, Mask Network and Nomura’s Laser Digital.
BBOX explained that its automated market maker model allows liquidity providers to “correlate its price ranges with other assets, mimicking the strategies of proactive market makers, while retaining the convenience of passive liquidity provision.”
The trading platform said it is working to launch its signal-driven AMM Linea, a zkEVM Layer 2 network for scaling Ethereum dApps. BBOX added that registration has opened for its private testnet.
“We aim to provide the entire DeFi ecosystem with both the infrastructure and liquidity layer for derivatives trading, and our ultimate goal is to create a platform where users can trade anything, earn on anything and both very can do effectively,” said Ray, founder of BBOX, according to the statement.
