It is expected that by the end of this year, the first chains will be launched on the popular Polkadot blockchain. In preparation for this occasion, the decentralized derivatives exchange dTrade, which will be located on the Moonbeam Polkadot blockchain, has attracted a market fund of $22.3 million to ensure sufficient liquidity depth at launch. The market-maker fund was accumulated by investments of such well-known companies as Alameda, Polychain, DeFiance, CMS, Hypersphere, Divergence, and Altonomy. Last month, dTrade also received support from companies such as Cumberland DRW and DeFi Alliance. The decentralized exchange (DEX), which attracted an initial round of $6.4 million back in May of this year, has created a chain program to collect capital collateral that goes directly to the accounts of market makers-firms that place both purchase and sale orders for certain traded assets and pocket spreads to ensure liquidity in the exchange’s books. Investors receive interest in the form of a management token, explained Rabil Javaid, co-founder of dTrade. The official launch of trade is expected shortly after the completion of the Polka dot auction is vicious for Moonbeam, a ramp for creating applications on Polkadot using smart contracts compatible with Ethereum.
Finance and Business Reporter