{"id":12433,"date":"2021-09-23T06:54:04","date_gmt":"2021-09-23T06:54:04","guid":{"rendered":"https:\/\/www.buyucoin.com\/crypto-labs\/solana-powered-defi-platform-orca-raises-18-million-amm-commands-over-300-million-tvl\/"},"modified":"2021-09-23T06:54:04","modified_gmt":"2021-09-23T06:54:04","slug":"solana-powered-defi-platform-orca-raises-18-million-amm-commands-over-300-million-tvl","status":"publish","type":"post","link":"https:\/\/www.buyucoin.com\/crypto-labs\/solana-powered-defi-platform-orca-raises-18-million-amm-commands-over-300-million-tvl\/","title":{"rendered":"Solana-Powered Defi Platform Orca Raises $18 Million \u2014 AMM Commands Over $300 Million TVL"},"content":{"rendered":"

The decentralized exchange (dex) platform Orca has announced the platform has raised $18 million in a Series A financing round with Polychain, Placeholder, and Three Arrows co-leading the funding. The dex platform is a Solana-based project that aims to be the \u201cgo-to swap\u201d platform for Solana.<\/strong><\/p>\n

Solana\u2019s Orca Gets an $18 Million Capital Raise<\/h2>\n

On Wednesday, the Solana-based decentralized finance (defi) service Orca<\/a> revealed the team has raised $18 million in a Series A funding round. The investment, Orca says, will \u201cjumpstart our path toward making Orca the go-to swap for the Solana ecosystem.\u201d<\/p>\n

Solana (SOL) has seen a massive increase in value gaining roughly 5,184% in 12 months. The Solana protocol has attracted the development of all kinds of defi projects. Defi projects like Serum, Solaris, Parrot, Solrise, Dexlab, Senswap, Spiderswap, Solend, Port, Sypool, Solanax, Hydraswap, and more.<\/p>\n

At the time of writing, the Orca defi protocol has $300 million total-value locked<\/a> (TVL) into the platform. Orca details that the $18 million in financing stems from Three Arrows, Polychain, and Placeholder as the co-leads. Participation also came from firms like Defiance, Zee Prime, Coinbase Ventures, Solana Capital, Jump Capital, Sino Global Capital, and Collab & Currency.<\/p>\n

\u201cNot only is Orca responsive and affordable, but it is finance made fun, with a cheery experience, community, and broader values-based mission,\u201d Placeholder partner Chris Burniske said during the announcement. \u201cIt\u2019s teams like Orca that will bring crypto to the mainstream and redefine how we think of finance in our everyday lives.\u201d<\/p>\n

Orca launched in February 2021, by the Yutaro Mori<\/a> and Grace \u201cOri\u201d Kwan<\/a> and the project started with no outside funding. \u201cSince then, we\u2019ve expanded the core team to 8, spanning three continents, broad professional experience, and many hobbies,\u201d the Orca team said.<\/p>\n

Three Arrows Executive: \u2018Orca\u2019s AMM Is a Critical Addition to the Solana Ecosystem\u2019<\/h2>\n

The automated market maker (AMM) also has a native token called ORCA which is used for trading fees and liquidity pools on Aquafarms. Kyle Davies, the co-founder of Three Arrows believes a Solana AMM like Orca is needed.<\/p>\n

\u201cOrca\u2019s AMM is a critical addition to the Solana ecosystem,\u201d Davies remarked. \u201cWe are excited by the strength of the team, performance, and their community-focused mission,\u201d he added.<\/p>\n

While Solana has seen significant gains in 2021 and is now the seventh-largest crypto asset in terms of market cap, the network suffered an outage<\/a> on September 14, 2021. Solana users were not pleased<\/a> with the situation and following the aftermath, the Solana project team published an official blog post<\/a> that discusses the outage in-depth with a detailed timeline of the events.<\/p>\n

What do you think about the Solana-based dex platform and AMM Orca raising $18 million from investors? Let us know what you think about this subject in the comments section below.<\/strong><\/em><\/p>\n

Bitcoin News
\nDefi, $300 Million TVL, 18 million, Coinbase Ventures, Collab & Currency, DeFi, defi app, Defiance, Jump Capital, Kyle Davies, Orca, Orca AMM, Orca Defi, Orca Dex, Sino Global Capital, Solana, Solana (SOL), Solana Capital, Solana Outage, swaps, Three Arrows, Zee Prime<\/p>\n","protected":false},"excerpt":{"rendered":"

The decentralized exchange (dex) platform Orca has announced the platform has raised $18 million in a Series A financing round with Polychain, Placeholder, and Three Arrows co-leading the funding. The dex platform is a Solana-based project that aims to be the \u201cgo-to swap\u201d platform for Solana. Solana\u2019s Orca Gets an $18 Million Capital Raise On…<\/p>\n","protected":false},"author":0,"featured_media":12434,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[53,3],"tags":[],"class_list":["post-12433","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain-news","category-coin-news"],"_links":{"self":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/12433"}],"collection":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/comments?post=12433"}],"version-history":[{"count":0,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/12433\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media\/12434"}],"wp:attachment":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media?parent=12433"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/categories?post=12433"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/tags?post=12433"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}