Spicenet Completes $5 Million Series A Financing Led by dao5

Spicenet announced the completion of a $5 million Series A financing round, led by dao5, with participation from Babylon and Astrarizon. Including the previous $3 million seed round co-led by Hack VC and Magnus Capital, Spicenet's total financing has reached $8 million. The funds from this round will be used to launch the cross-exchange margin product Spice Edge and the SPICE token, as well as to provide initial liquidity for products within the network. The beta trading volume of Spicenet's cross-chain interaction product Spice Flow has exceeded $160,000. Spice Edge is set to launch its beta version, with Derive as the first partner.

This content is provided for general informational purposes only and doesn't constitute financial, investment, legal, or tax advice. Any events, rewards, online promotions, or related information mentioned herein should not be considered a recommendation, solicitation, or invitation to purchase, sell, trade, or otherwise deal in any crypto assets. Crypto assets are highly volatile and may result in loss. The availability of WEEX services, products, and related events may vary by region. You are responsible for ensuring that your participation is in accordance with applicable local laws and regulations.