Narwhal Finance, the BNB Chain and Arbitrum-based decentralized cross-market perpetual trading platform, has raised $1 million in a seed round. Animoca Ventures, the venture capital arm of Animoca Brands, led the round, which also included investment from Hailstone Ventures and a number of angel investors. Using these funds, the platform says that it will be able to realize its mission of making a high-quality, decentralized leveraged trading environment available to everyone.
When it comes to social trading, Narwhal Finance provides a one-of-a-kind solution by allowing leveraged trading across all asset classes via synthetic assets on a cross-market decentralized perpetual exchange. With the goal of becoming the top decentralized cross-market trading platform, it allows users to trade with leverage of up to 1000x on a wide variety of pairs. These asset classes include cryptocurrencies, forex, indices, and stocks.
Narwhal Finance says that it provides users with complete transparency, self-assurance, and a stress-free trading experience. To do this, it combines the best of DEX experience with social trading. In addition, it has a copy trading feature, which makes it easy for users to copy the actions of successful traders so that they can make money despite having no experience in the market.
The project’s Lead Developer Coco Said:
“This funding will enable us to execute our vision of providing an exceptional decentralized leveraged trading platform accessible to all. We are grateful for the opportunity to bring our innovative solution to the market and are excited for what the future holds.”
Animoca Ventures, a frontrunner investor in the blockchain sector, thinks this alliance has a lot of potential. The venture capital firm sees the Narwhal Finance team’s knowledge and the platform’s cutting-edge technology as presenting a good chance of disrupting the existing decentralized perpetual trading market.
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