Decentralized cryptocurrency exchange dydx has announced it raised $10 million in a Series B investing round. The investment round was led by Three Arrows Capital and DeFiance Capital.
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According to an announcement, the following investors participated in the investing round: Hashed, Wintermute, GSR, SCP, Scalar Capital, RockTree Capital and Spartan Group.
"Perpetuals trading is an exciting use case for blockchain technology and we are thrilled to be building a core component of the decentralized financial ecosystem," the exchange said.
The exchange plans to use the raised capital to decentralize parts of its stack and "hand over more control" to its users. Dydx will also list new assets and features to perpetuals contracts. As iHodl earlier reported, Mercado Bitcoin, a Brazilian cryptocurrency exchange, attracted $37.4 million to expand its presence in the Latin American market.
The investment round was led by GP Investimentos and Parallax Ventures. Other participants included Fundo Evora, Ze Bonchristiano, HS Investimentos FIP, Banco Plural and Gear Ventures.
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