Reported by The Block, DeFi protocol Elixir has closed a $7.5 million Series A fundraising round at a $100 million valuation, designed to help it improve liquidity across decentralized order book exchanges.
Hack VC led the round, with participation from NGC Ventures, AngelList Ventures, Bloccelerate and angels from Ledger Prime, Genesis Trading and Hudson River Trading, among others.
Elixir allows users to supply liquidity directly to pairs on order book exchanges and earn maker rewards with a similar risk-return profile to AMMs, the team said. By incentivizing deeper liquidity, Elixir aims to create a more efficient trading environment characterized by tighter bid-ask spreads and increased volume.
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