BBO Exchange (BBOX), a remote decentralized derivative trading platform, raised $2.7m in pre-seed funding.
The round was co-led by Hashed and Arrington Capital with participation from Consensys, CMS Holdings, Flow Traders, Manifold Trading, Mask Network, and Laser Digital (Nomura Group), Arcane Group, Draper Dragon, Vessel Capital, Aulis Venture, Formless Capital, Press Start Capital, and One Piece Labs, as well as Keone Hon and Hongbo Tang.
The company is using the funds to continue to develop the platform, whose Beta is open for registration.
BBOX is advancing a decentralized derivative trading platform. As a perpetual DEX incorporating Oracle Extractable Value in its liquidation process, the company incorporates an innovative auction mechanism, capitalizing on latency in oracle price updates.
Additionally, a multi-asset, signal-driven dynamic distribution AMM also allows LPs to correlate price ranges with other assets, emulating the strategies of proactive market makers while maintaining the ease of passive liquidity provision. This empowers liquidity providers to focus their assets around a dynamic price range, boosting market efficiency. This is all made possible through an interface and scalable SDK design, catering to both DeFi power users and casual investors.
Last year, BBOX was one of 12 projects selected by Binance Labs as part of series 6 of their incubation season.
FinSMEs
01/02/2024