thecoinrise.com
Three Arrows Capital (3AC) has led a team of investors that backed Orderly Network in its latest financing round where it pulled the sum of $20 million. Besides 3AC, Pantera Capital, Dragonfly Capital, Sequoia China, Jump Crypto, Alameda Research, GSR Ventures, and MetaWeb.VC, as well as a group of strategic partners also participated in the funding round.
Continuing the spate of venture capital fundings, Orderly Network, a decentralized exchange platform that was incubated by both the NEAR protocol and Woo Network to power DApps building on NEAR. As a startup that comes off with a mission to create the most robust liquidity layer infrastructure for any dApp to utilize and build on, Orderly Network offers permissionless spot and futures order book trading infrastructure with CeFi-level execution.
For the push to make the operations of other protocols go on smoothly, investors have identified Orderly Network’s role as pivotal to the future of the Web3 economy whose foundation is currently being laid today.
“We are proud to back Orderly as they build out top-performing infrastructure and deep liquidity on NEAR. Infrastructure being built for traders by traders—results in better products that are designed to meet the specific needs and provide the best possible trading experience. Pairing this product-first ethos with best-in-class liquidity options and a team with a proven track record, we believe that Orderly is primed for success,” said Kyle Davies, Co-founder, of Three Arrows Capital.
Orderly Network Funding a Boost to NEAR Protocol’s Ecosystem Fund
TheCoinRise reported back in October last year that the Near Protocol pulled the sum of $800 million which it planned to deploy into boosting the Decentralized Finance (DeFi) ecosystem of its blockchain.
The latest funding from the Orderly Network will largely complement these highly targeted efforts and notably, also align with the collective efforts from other public blockchains including Avalanche and Solana.
“As part of our investment in NEAR, we strive to build exposure in the infrastructures poised to become key components in the chain’s success. With the Orderly team, we were impressed with the depth in expertise and their ability to deliver solid DeFi infrastructures, making our commitment an easy decision,” said Haseeb Qureshi, Managing Partner, Dragonfly Capital.