Dragonfly Leads $6.5M Round for Aptos Protocol Econia Labs

Econia Labs, a startup developing an order book protocol for the Aptos blockchain, raised $6.5 million in a seed funding round led by Dragonfly.

The company will use the funds to expand its team, support community initiatives such as hackathons and grant programs and help onboard developers to both the Aptos and Econia ecosystems, CEO Alex told CoinDesk in an email. Alex didn't provide a family name.

Portland, Oregon-based Econia Labs is building a back-end protocol to serve as a base layer for decentralized finance (DeFi) projects on Aptos. The protocol offers order books, a component of traditional finance and centralized crypto exchanges that allows traders to buy or sell assets at their desired price or to just take the best price offered by the market, Alex said. Econia brings order books on-chain in a transparent, permissionless way and supports integrations with DeFi applications that offer a range of trading options such as spot trading or leveraged derivatives.

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