The developer of Solana-based decentralized exchange Phoenix has just secured $20 million in a Series A funding round for startup Ellipsis.
The financing was led by Paradigm with support from Electric Capital and other industry leaders. Notably, Ethereum public figures also supported the development of Ellipsis. These include Ethereum researchers Justin Drake and Mike Newder, Ethereum Foundation head of protocol support Tim Beiko, and EigenLayer founder Sreeram Kannan.
A diverse group of investors caught the attention of X, and users were quick to comment on the collaboration between individuals from competing ecosystems.
read more: Low-cost Solana DeFi frees developers from constraints: Ellipsis co-founder
Young Van Eck raises $12 million
Nick Van Eck, heir to investment management firm Van Eck, has secured $12 million in a seed round led by Dragonfly Capital for his stablecoin startup Agora.
“I have spent my entire career building investment cases based on the visions of other founders, and there is no better time or opportunity to build towards the future and vision I believe in. ” Van Eck said. Posted “AgoraDollar is that company. We are building a more economically inclusive future where custodians and creators of financial assets have borderless access.”
read more: Ripple to issue stablecoin backed by 100% cash equivalents
The company says its first product will be a fully collateralized stablecoin pegged to the US dollar.The stablecoin, named Agora Digital Dollar or AUSD, has not yet been launched, but the team remarks This differs from existing products in that it will only be available in select markets outside the United States.
Other notable fundraisers
- Paradigm is in talks with investors to raise $850 million.
- Sei has revealed that it will inject $10 million into the NFT ecosystem.
- merkle trade Safe $2.1 million in social Perp DEX.
- Xion has raised $25 million for its abstraction-focused blockchain.
Jack Kubinec contributed reporting.
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