{"id":73507,"date":"2024-03-12T16:17:12","date_gmt":"2024-03-12T20:17:12","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=73507"},"modified":"2024-03-12T16:24:40","modified_gmt":"2024-03-12T20:24:40","slug":"elixir-secures-8-million-in-series-b-funding","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/elixir-secures-8-million-in-series-b-funding\/","title":{"rendered":"Elixir Secures $8 Million in Series B Funding"},"content":{"rendered":"\n

A decentralized network called Elixir<\/a>, which aims to improve liquidity on order book exchanges, just closed an $800 million Series B fundraising round.<\/p>\n\n\n\n

\"Elixir
Elixir Secures $8 Million in Series B Funding<\/figcaption><\/figure>\n\n\n\n

The round, co-led by Mysten Labs and Maelstrom, raised $8 million with contributions from entities including Manifold, Arthur Hayes, Amber Group, GSR, Flowdesk, among others.<\/p>\n\n\n\n

Orderbook exchanges are favored due to their direct trading environment, while Automated Market Makers\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> rely on trading through mathematical models and liquidity pools. <\/p>\n\n\n\n

However, liquidity issues have plagued decentralized exchanges, forcing a move toward orderbook architectures. Elixir solves this by paying users to exchange pairs with liquidity provision. <\/p>\n\n\n\n

The network will interface with platforms like dYdX and ApeX and provides a significant portion of liquidity on exchanges like Vertex, Bluefin, and RabbitX.<\/p>\n\n\n\n

\n

The future of exchange liquidity is here. pic.twitter.com\/mLNsz1RyDV<\/use><\/svg><\/span><\/a><\/p>— Elixir (@elixir) February 12, 2024<\/use><\/svg><\/span><\/a><\/blockquote>

Arthur Hayes, Chief Investment Officer at Maelstrom, expressed excitement about Elixir's expansion and its role in boosting orderbook liquidity on significant exchanges. <\/p>\n\n\n\n

After its Series A and Series B investment rounds<\/a>, the project's valuation increased from $100 million to $800 million, with total capital topping $17 million.<\/p>\n\n\n\n

The CEO of Elixir, Philip Forte, unveiled the Apothecary. This feature allows users to follow contributions and interact with Elixir on social media, along with the impending network mainnet launch. <\/p>\n\n\n\n

With this breakthrough, Elixir's objective of enabling liquidity throughout Layer 1 and Layer 2 blockchain ecosystems <\/a>and their corresponding exchanges is one step closer to reality. Forte also mentioned about the funding and the current bull market:<\/p>\n\n\n\n

\n

“We're excited about it; it will help us pour fuel on the fire for our growth as we head into our mainnet launch. We're already well funded, but this will allow us to accelerate developer timelines.”<\/p>\n<\/blockquote>\n","protected":false},"excerpt":{"rendered":"

A decentralized network called Elixir, which aims to improve liquidity on order book exchanges, just closed an $800 million Series B fundraising round. The round, co-led by Mysten Labs and Maelstrom, raised $8 million with contributions from entities including Manifold, Arthur Hayes, Amber Group, GSR, Flowdesk, among others. Orderbook exchanges are favored due to their […]<\/p>\n","protected":false},"author":43,"featured_media":73510,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[8116,18779],"class_list":["post-73507","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-series-b-funding","tag-elixir"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2024\/03\/croc_1710273436582.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/73507","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/43"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=73507"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/73507\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/73510"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=73507"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=73507"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=73507"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}