Market Making on Polkadot Gets $22.3M Boost

Written By Guest User
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Full article by Ian Allison found here.

Key Points:

  • Decentralized derivatives exchange dTrade will launch on Polkadot’s Moonbeam parachain. It has raised $22.3 million dollars to ensure liquidity at launch.

  • Parachains are custom made blockchains that are integrated with the Polkadot network, enabling a plethora of blockchain inter connectivity.

  • The market making fund has included investments from Alameda, Polychain, DeFiance, CMS, Hypersphere, Divergence and Altonomy.

  • dTrade has created an on-chain program to collect pledges of capital that go directly to the market-maker fund to provide liquidity for the decentralized exchange. Investors earn percentage interest when funding in the form of governance tokens.

  • The official launch of dTrade is expected soon after the Polkadot Parachain auction finalizes for Moonbeam, which is an on-ramp to build apps on Polkadot with smart contracts.

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