Merkle Trade Raises $2.1 Million in Seed Funding Round, Revolutionizing Decentralized Trading
Decentralized trading platform Merkle Trade has made waves in the industry by securing $2.1 million in a seed funding round co-led by Hashed and Arrington Capital. The funding round also saw contributions from Morningstar Ventures, Amber Group, Aptos Labs, Re7 Capital, and Dorahacks.
Launched in 2023, Merkle Trade has quickly gained attention for its innovative approach to trading. The platform offers a unique trading experience that combines cryptocurrencies, forex, and commodities, with leverage up to an impressive 1,000x.
What sets Merkle Trade apart is its mission to make trading accessible and enjoyable for everyone. By integrating gaming elements and social trading, the platform is breaking down traditional barriers to entry and democratizing the trading experience.
Ryan Kim, Co-founder & Partner at Hashed, praised Merkle Trade’s approach, highlighting the platform’s ability to captivate a wide range of users within the industry. Michael Arrington, the Founder of Arrington Capital, also commended Merkle Trade for its visionary approach to enhancing the trading experiences of both seasoned web3 traders and newcomers.
Within just four months of its inception, Merkle Trade has attracted 90,000 traders and facilitated $5 billion in trading volume, establishing itself as a leading perpetual decentralized exchange (DEX) on the Aptos blockchain.
The platform’s omnichain capabilities, which include support for various blockchains such as Ethereum, Polygon, Arbitrum, and Binance Smart Chain, further enhance its appeal to traders.
One of the key features of Merkle Trade is its gamification of trading. The platform offers a unique level-up system, where active trading unlocks new levels and rewards traders with loot boxes and exclusive NFT items. Traders can also participate in weekly trading missions of varying difficulty levels, further engaging the platform’s community.
Mo Shaikh, Co-Founder & CEO of Aptos Labs, emphasized the broader implications of Merkle Trade’s mission, stating that expanding DeFi and social connectivity on-chain is essential for onboarding billions of users into the decentralized web.
With the latest funding, Merkle Trade plans to enhance its gamifying and social aspects significantly. Upcoming features include an in-app marketplace for NFT items, trading battles, and copy trading capabilities. The team also aims to streamline the onboarding process, making it easier for non-web3 native users to engage with the platform without needing custodial wallets.
Merkle Trade’s rapid growth and innovative approach to decentralized trading are setting a new standard in the industry, attracting both seasoned traders and newcomers alike.
