Econia Labs raises about 900 million yen
Crypto asset (virtual currency) startup Econia Labs announced on the 30th that it has raised approximately 860 million yen ($6.5 million) in a seed round led by cryptocurrency venture fund Dragonfly. Other investors include Lightspeed Faction, Aptos Labs, Wintermute Ventures, Hudson River Trading and Flow Traders.
Econia Labs is a startup building a decentralized orderbook infrastructure on the Aptos blockchain. The funds raised will be used to expand the team, support the community through grant programs, and hire developers.
Dragonfly’s Kadin Donohoe commented:
The need for a decentralized order book is clear as the centralized exchange (CEX) turmoil continues. Econia Labs leverages Aptos’ architecture to support on-chain matching. We are proud to support Econia’s vision of a transparent and open marketplace.
Econia Labs co-founder and CEO Alex said:
We have built a high-performance payment engine in the open, making it easier to link our innovative price discovery machine with various dApps (decentralized apps).
About Econia Labs
Econia Labs offers an orderbook that serves as a base layer for decentralized finance (DeFi) projects on Aptos.
It achieves optimal capital efficiency with an on-chain matching engine that instantly settles trades where orders are placed. Users can buy and sell assets at their desired price or find the best price in the market.
It is designed to accommodate a wide range of trading, from spot trading to leveraged perpetual futures trading. Econia Labs worked closely with the Aptos core team to develop it.
The Econia protocol is open source and the latest version has already undergone three independent audits and is live on the Aptos testnet.
For dApp developers, integrators can connect Econia’s matching engine to their smart contracts. In the future, it is expected that you will be able to access client libraries and SDKs (software development kits).
What are dApps
An application developed using an open-source blockchain. An abbreviation of “Decentralized Applications”, it is called “decentralized application” in Japanese. The main feature is that there is no centralized administrator. The most popular is the Ethereum blockchain, where apps such as games and decentralized exchanges (DEXs) are being developed. .
Aptos, founded by a former diem developer
Aptos is known as a blockchain founded by the former developers of Diem, a stablecoin developed by Meta. Aiming to “build the fastest and most scalable L1 blockchain”, in 2022, it received more than 6 trillion yen ($45 billion) from major investment institutions.
Aptos Labs, the developer of Aptos, just announced a new game software developer tool in February. It is like providing a game software development kit (SDK) within the game development platform “Unity”.
Users can leverage the Aptos blockchain to build in-game asset ownership, in-game item purchase, liquidation, and trading functions in games across devices.
connection: What is the new blockchain “Aptos” developed by former Meta engineers?