Decentralized finance protocol Elixir closed a $2.1 million seed round to allow anyone to participate in crypto market making. FalconX, Commonwealth, OP Crypto, ChapterOne and Bitmex founder Arthur Hayes are among those investors who participated in the round, the protocol said in a release.

Elixir is designed to enable anyone to participate in market making on both centralized and decentralized exchanges through a decentralized protocol. Still, market makers have been attracting capital, with CyberX last week saying it raised $15 million in a Series A round to improve its proprietary risk management framework, which monitors on-chain and off-chain data in real-time.

Elixir is hoping to resolve the scrutiny facing market makers with a protocol that aligns incentives with projects and provides more transparency. Elixir is working with top exchanges and projects to provide more transparent liquidity to central limit order book, said Philip Forte, Elixir’s founder and CEO, in a release.

The startup is also working on several integrations with decentralized exchanges and exchanges will also be able to directly integrate Elixir to enable retail participation in active algorithmic market making. The startup expects to launch its public mainnet later this year.