Singapore: Merkle Trade Secures $2.1M Funding Round
Decentralized Trading Platform Merkle Trade Raises Seed Round
Merkle Trade, a decentralized trading platform offering crypto, forex, and commodities trading with leverage up to 1,000x, has announced the closure of a $2.1M seed round. This round was led by Hashed and Arrington Capital, with additional participation from Morningstar Ventures, Amber Group, Aptos Labs, Re7 Capital, and Dorahacks.
Revolutionizing the Trading Experience
Merkle Trade’s mission is to transform trading into an enjoyable and social activity accessible to all. By combining gaming elements and social trading, the platform aims to democratize the trading experience. This funding round, following its launch in late 2023, will support Merkle Trade’s growth initiatives as it continues to innovate as a leading decentralized perpetuals trading platform.
Industry Praise and Vision
Ryan Kim, Co-founder & Partner at Hashed, highlighted the significance of non-custodial directional trades in the volatile crypto asset market. He expressed confidence in Merkle Trade’s focus on a wide range of traders, unlocking new market potential. Michael Arrington, Founder of Arrington Capital, commended Merkle Trade’s vision for enhancing trading experiences for both existing web3 traders and new entrants.
Transformative Growth and Success
With a focus on gamified trading, Merkle Trade has experienced significant growth and success. Within just four months of its inception, the platform boasts 90,000 traders and $5 billion in trading volume. It has emerged as a leading perp DEX on Aptos and ranks in the top 10 across the decentralized derivatives ecosystem.
Gamified Trading Experience
Merkle Trade gamifies the trading experience through a unique level-up system, offering rewards such as loot boxes and exclusive NFT items with randomized trading benefits. Traders can engage in weekly trading missions to earn points, with rewards corresponding to mission difficulty levels.
Future Plans and Innovation
The recent funding will enable Merkle Trade to enhance its gamified and social features, including an in-app marketplace for NFT items, trading battles, and copy trading functionalities. The platform also plans to improve the onboarding process for non-web3 native users.
About Merkle Trade
Merkle Trade is a decentralized trading platform that aims to offer an unparalleled trading experience for both seasoned traders and newcomers. With a focus on gamification and social trading, the platform combines simplicity with advanced trading features, ensuring a dynamic and engaging trading environment.
About Hashed
Hashed is a team of blockchain experts and builders committed to accelerating the mass adoption of blockchain technology. The team believes in the transformative power of decentralization and works to empower entrepreneurs and innovators in creating a decentralized future.
About Arrington Capital
Arrington Capital is a digital asset management firm focused on blockchain-based capital markets. With a diverse team of industry veterans and crypto enthusiasts, the firm has invested in numerous startups globally, aiming to drive innovation in the blockchain space.
About Aptos Labs
Aptos Labs, founded by Mo Shaikh and Avery Ching, is dedicated to creating better network tooling and enhancing usability for decentralized applications. Backed by top investors, Aptos Labs aims to bring the benefits of decentralization to a broader audience.
