The cloud-based developer platform Shipyard Software has raised $4m from Polychain Capital and other investors to create a decentralised exchange, Clipper. It was reported by The Block.
The funding will be used to improve the code of DEX, which was launched on 30 June, and increase the liquidity of its pools.
Other participants in the investment round include 0x Labs, 1inch, DeFi Alliance, Quantstamp and others.
The $17 million in liquidity for DEX will come from Polychain Capital, Nascent, Three Arrows Capital among others.
Designed primarily for traders with small amounts of capital, Clipper has received integration with aggregators 1inch and 0x.
The developers estimate that most of the decentralised exchanges currently in operation are optimised for trades well above the typical crypto trader's average of $10,000.
As a reminder, Uniswap launched an alpha version of the platform on the core Optimistic Ethereum (OΞ) network, which assumes fast and cheap transactions. The third version of this DEX protocol was launched in May.
In June, decentralised cryptocurrency derivatives exchange dYdX closed a $65 million Series C funding round.
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