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Hashflow said that it will use these funds to bring more structured products into the market while allowing the trading of other asset classes on DeFi rails.
Decentralized finance (DeFi) trading platform Hashflow announced raising $25 million in a Series A funding round which takes the company’s valuation to $400 million.
Hasflow said that it will use these funds for expansion and launch more structured products later this year. Some of the leading investors during the Series A funding include Electric Capital, LedgerPrime, Dragonfly Capital Partners, Balaji Srinivasan, Wintermute Trading, Kraken Ventures, Coinbase Ventures, Jump Crypto, and others.
The company added that it will use the raised capital to build and scale regardless of the market conditions. As per Hashflow’s roadmap, the company will deploy a trading platform on Solana by the third quarter of 2022. Besides, it will further enable native and cross-chain swaps on the platform. Speaking of the development, Kanav Kariya, President of Jump Crypto said:
“Our team is excited about Hashflow’s one-of-a-kind tech and its impressive growth, which has been achieved within a short window and on a lean budget. Varun and his team have identified a strong product-market fit that they can now capitalize on with great effect. Hashflow is well-positioned to scale its products and offerings to transform the entire DeFi space.”
Improving the Overall DeFi Experience
Hashflow said that it aims to improve the overall decentralized finance (DeFi) experience by offering structured products in allowed jurisdictions by the fourth quarter of this year. These products shall be based on its request-for-quote (RFQ) model.
The RFQ model by Hasflow allows trading of structured asset classes which was not possible previously on DeFi rails. Thus, the RFQ model will allow “to seamlessly trade structured products,” including options and exchange-traded funds. Besides, the model also optimizes for seamless interoperability, guaranteed price execution, and MEV protection. Speaking to CoinDesk, Hashflow founder Varun Kumar told:
“Uniswap got people excited about DeFi by essentially bringing the simplicity of trading to anyone. We are scaling DeFi in the sense that, as markets mature, it all comes down to better pricing execution, guaranteeing that the trade will go through and being able to trade any asset class on any chain. We essentially solve those issues.”
Hashflow says that its RFQ model allows professional market makers to manage liquidity pools.