OpenLeverage raises $1.8 million for seed round
We are happy to announce that OpenLeverage has received more than $1.8 million USD in seed round financing. Signum and LD Capital led the investment. We also received continuous support from FBG Capital, YBB Foundation, and Continue Capital.
Obtaining financing is gratifying and we’d also like to share some progress we’ve made so far:
- Our test network has been officially launched
- We are working on the migration of the project to Layer 2
- We are in close cooperation with two admirable audit institutions — Certik and Peckshield, to perform code auditing
As you may already know, OpenLeverage is a Permissionless Margin Trading Protocol, which enables traders to long/short any trading pair on DEXs efficiently and securely. It runs with real-time price from DEX, risks isolated between pairs, dynamic interest rate model, and aggregated liquidity from DEXs to become an important infrastructure for leverage trading in a decentralized environment.
In the development of our project, we have constantly discovered that a decentralized, end-to-end, open and transparent on-chain leverage agreement is an indispensable part of the DeFi world, whether it is the real demand or the huge market behind it, both have convinced us that the project we undertaking is an amazing attempt for the cryptocurrency world.
If you ever felt the same like us:
- I don’t like the lack of transparency with leveraged trading in centralized exchanges
- Want to go long or short tokens that are only listed on Uniswap and/or Pancakeswap
- Hope to obtain leveraged trading with higher depth
- Hope to find a protocol with isolated risk by using real-time pricing and avoids flash loan attacks through smart contract
Well, now you have OpenLeverage.
Our test-net has been launched, we hope you find it satisfactory:
Please start here to know more about us:
Discord: https://discord.gg/DmZCpgBZY3
Twitter: https://twitter.com/OpenLeverage
Medium: https://medium.com/@OpenLeverage
