ZKX raises $4.5 m in Seed Round


After structure in stealth mode, we are happy to reveal that ZKX has actually raised a seed financing round to fix existing obstacles in the DeFi market and speed up the development of ZKX.

ZKX, the very first permissionless derivatives trading procedure developed on StarkNet, StarkWare’s L2 network that leverages ZK rollups, raised $4.5 m with involvement from financiers consisting of StarkWare, Alameda Research, Amber Group, Huobi,Crypto com, Hashkey Capital, Orange DAO, Angel DAO, Dweb3, Caballeros Capital, Cluster Capital, andGate io.

In addition, noteworthy private financiers, consisting of Sandeep Nailwal, Co-Founder, Polygon, and Ashwin Ramachandran, General Partner, DragonFly Capital, likewise took part in the round.

Uri Koldony, Co-Founder and CEO of StarkWare, shared his views on ZKX:

“Our ongoing collaboration with ZKX has been a successful one, and we have developed a fruitful relationship. They have been pioneers of the StarkNet ecosystem, building, educating, and providing invaluable feedback to developers everywhere.”

To contribute to the statement, Eduard Jubany, Founder at ZKX, likewise shared his views:

“We are determined to build an exchange that breaks down the barriers to using DeFi, and we’re doing that by building a protocol that enables trading derivatives of assets on StarkNet. Our goal is to expand the reach of ZKX across emerging markets, combining sound technology with a friendly user experience, and an ecosystem that enables users to have fair representation within a DAO. We are grateful to have the support of our investors, who understand and believe in our vision. This milestone is just the beginning of a breakthrough year for ZKX and our partners. We’re creating new fundamentals for ZKX and the DeFi community, raising the bar for everyone.”

The financing will go towards additional advancement of ZKX’s core offerings, the ZKX open-source procedure, DAO financing, and the ongoing development of the ZXK community.

Our group is developing brand-new structures to fix important obstacles in the DeFi market, consisting of over-reliance on oracles, problem in bootstrapping liquidity for brand-new derivatives, and centralized listing systems.

Why StarkNet?

We chose to develop on top of StarkNet since it supplied us with an environment where we might do some things that weren’t possible in other web3 environments– and it likewise supplied us with a more curated neighborhood of designers within Starkware’s community. StarkWare’s reliability, consistency of shipment, and terrific performance history with StarkEx options made them our leading option for a partner. Furthermore, we are lined up with their vision of developing tools for designers that will accommodate a larger audience and broaden the reach of web3 throughout the marketplaces.

How ZKX’s Derivative Protocol is Solving Market Challenges?

ZKX is setting out to eliminate the “decentralization illusion” that affects today DeFi landscape by developing a community for derivatives anchored in decentralization. ZKX’s special innovation provides the following main differentiators:

  1. Powered by DAOs: Enabling DAOs and tasks to list derivatives markets for their tokens and providing trading rewards for the neighborhood.
  2. Liquid Governance: Allowing the separation of representation and token-holding in DAOs and reasonable representation for all stakeholders by supplying Virtual Governance Shares (VGS) according to each stakeholder’s habits in the procedure.
  3. Decentralized Order Book: Inclusive of a node network to assist scale the derivatives exchange with a permissionless node customer.
  4. L2 Scaling: ZKX trading user interface powered by StarkNet, StarkWare’s ZK rollup, which offers low costs, instantaneous settlements, quick withdrawals on the platform, and the assistance of the ever-growing StarkWare community.

ZKX Milestones up until now:

  • Following the launch of ZKX on social networks, we got 18,000 members on our social networks channels and 11,000 members on our discord neighborhood channels.
  • Received grants from StarkWare Industries in 2022, marking the start of a productive cooperation.
  • Partnered with Nethermind for a wise agreement audit this July.
  • Launched StarkCo n, a community-led conference for the StarkNet Community.

Our Team:

ZKX was established in 2021 by Eduard Jubany Tur, Naman Sehgal, andVitaly Yakovlev Prior to starting ZKX, Eduard and Naman held management positions at SOSV, among the world’s leading VC companies with over $1.2 billion AUM. The 30-person ZKX group consists of leading skill from the similarity Flipkart, PayTM, and Byju’s, with years of shared experience in endeavor structure, scaling innovation start-ups, and monetary derivatives structuring in over 8 nations.

What’s next?

We strategy to launch ideas around monetary Innovation such as ABR, High Tide, and T-Swaps and get ready for Testnet this quarter. We’re likewise introducing our Community Incentives Program and Partner Program this summer season. Our mainnet is arranged in Q4, and we prepare to decentralize the node network next year.

About ZKX

ZKX is a permissionless procedure for derivatives developed on StarkNet, with a decentralized order book and a distinct method to provide complicated monetary instruments as swaps. The procedure is powered by a DAO and will offer a raised trading experience with gamified leaderboards and special liquid governance. ZKX’s objective is to equalize access to international yields through its offerings to anybody, anywhere.

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