Cointime

Cointime

Download App
iOS & Android

Siphon Lab Has Successfully Closed a $1.2M Seed Round Fundraising

Cointime Official

Crypto DeFi startup Siphon Lab has recently closed a successful $1.2 million fundraising seed round ahead of its beta launch. The funding was led by Kima Ventures, with participation from Waveline Capital, BT Growth Capital, Uno Ventures, Quidnet Ventures, and Mava Ventures, among other notable angel investors in the web3 and web2 industry. The seed round funding will be used to accelerate Siphon’s development, expand its team and scale its operations to meet the increasing demand for its services.

“We are excited to have the support of Kima Ventures and other highly reputable investment firms,” said Jeffrey Cato, co-founder and CEO of Siphon Lab. “Their experience and resources will be valuable as we continue to grow and scale our business to provide financial technology solutions to bring more users to SUI Network. Our team has the skills, experience, and network to create one of the top solutions in the market.”

About Siphon Lab

Siphon Lab is on a mission to build the Siphon Universe on the Sui network. Siphon Universe includes the Siphon ecosystem, which consists of Tradeify and Liquidify and many other innovative products that will be launched in the future

Tradeify is a decentralized derivative trading protocol offering zero price impact trading, up to 100x leverage, self-custody, aggregated liquidity, and an optimized on-chain trading experience, while Liquidify is the premier liquid staking protocol built on top of the SUI blockchain that aims to unlock the value of all staked SUI and maximize the capital efficiency of SUI across the ecosystem. Liquidify is the premier liquid staking protocol built on top of the SUI blockchain that aims to unlock the value of all staked SUI and maximize the capital efficiency of SUI across the ecosystem.

DeFi
Comments

All Comments

Recommended for you

  • Cointime May 3rd News Express

    1. The 133rd Ethereum ACDC meeting: The goal is to complete the devnet within 7-10 days

  • Paribu wallet address transferred more than 4 trillion PEPE, worth about 31 million US dollars

    According to Whale Alert monitoring, the Paribu wallet address transferred 4,049,371,347,309 PEPE tokens worth approximately $31,091,073 via the Ethereum blockchain at around 17:20 today, and all tokens were transferred to an address starting with "0xa23c".

  • Huaxia Virtual Asset ETF's AUM exceeds HK$1 billion, while Bosera and Harvest AUM both exceed HK$500 million

    According to the latest virtual asset ETF asset management scale data from HKEX as of May 3rd:1. Huaxia Ether ETF has an asset management scale of HKD 146.16 million, and Huaxia Bitcoin ETF has reached HKD 880.25 million, with a total amount exceeding HKD 1 billion, reaching HKD 1.02641 billion;2. Bosera HashKey Ether ETF has an asset management scale of HKD 96.59 million, and Bosera HashKey Bitcoin ETF has reached HKD 478.09 million, with a total of HKD 574.58 million;3. Harvest Ether ETF has an asset management scale of HKD 89.97 million, and the encrypted Bitcoin ETF has reached HKD 449.39 million, with a total of HKD 539.36 million.

  • FRIEND fell below $3, and the ecosystem TVL dropped to the $30 million range

    According to DexScreener data, the trading price of friend.tech tokens has fallen below $3 and is currently at $2.31. The current circulating supply is approximately 14.5 million. According to DeFiLlama data, the friend.tech ecosystem's TVL has dropped to the $30 million range, with a 13.6% decline over the past 7 days. Friend.tech was launched on the Ethereum Layer 2 network Base in August of last year. The ecosystem's TVL had once surpassed $50 million and is currently the 9th largest protocol on the Base chain.

  • Animoca Brands: MOCA token distribution is planned to take place around May 24

    Animoca Brands officially announced that the distribution of MOCA tokens is planned to take place around May 24th. The token release information includes:

  • NFT lending platform Blend’s total transaction volume exceeded US$6 billion, with more than 650,000 loans

    The latest data from Dune shows that the total transaction volume of Blend, an NFT lending platform under Blur, has exceeded 6 billion US dollars, reaching 6,048,459,706 US dollars at the time of writing, with a total of 659,353 loans; the total number of independent borrowing users is 10,458, and the total number of independent lending users is 4,447. The current total active loan amount is 3,347, with an active loan amount of approximately 6,013 ETH.

  • Yuga Labs will migrate the Otherside metaverse to Improbable’s Msquared

    Yuga Labs and Improbable announced the migration of Otherside Metaverse to Improbable's Msquared, which is Improbable's interconnected Metaverse network. By rebuilding Otherside, Yuga Labs will provide the community with the ability to build in large-scale environments and interoperability. Improbable and Yuga Labs also announced other news about the development of Otherside, including a large multiplayer game event in July and the launch of Otherside development toolkit World Builder ODK.

  • friend.tech has opened airdrop token applications, FRIEND is currently priced at $3.34

    According to the official website, friend.tech has opened up the airdrop of the token FRIEND for claiming, with FRIEND currently priced at $3.34. Previously reported, friend.tech will release version 2 and conduct an airdrop on May 3rd.

  • The 133rd Ethereum ACDC meeting: The goal is to complete the devnet within 7-10 days

    The Ethereum developers held their 133rd ACDC conference call. First, they outlined the latest research on Ethereum protocol confirmation rules. Then, they discussed Pectra updates related to EIP-7547 and CFI states, and decided to put them on hold temporarily. They also updated the v1.5.0-alpha.1 specification. Regarding the implementation updates for devnet-0, most teams are making progress, but there are also some unexpected complexities. The goal is to complete devnet within 7-10 days.

  • The Bitcoin-native stablecoin bitSmiley Alphanet V1 Surpasses $24M TVL in 24 Hours!

    In a remarkable achievement, bitSmiley's Alphanet V1 skyrocketed to over $24 million in TVL within just 24 hours of its launch with over 6 million bitUSD stablecoins minted through over-collateralization. bitSmiley stands as a pioneering initiative, introducing stablecoins by over-collateralizing Bitcoin.

Daily Must-Read

Popular Activities

Delysium $AGI & AI Private Yacht Party

Delysium $AGI & AI Private Yacht Party

March 27 - March 27
Seoul

Popular Tags

Cointime
News
Contents
RSS
Company