Solana-Based DEX Orca Raises $18M Series A Funding

Orca, a Solana-based decentralized exchange (DEX), has raised $18 million in Series A funding led by Polychain, Three Arrows Capital and Placeholder.

  • Other participants in the funding round include Coinbase Ventures, Jump Capital, Sino Global Capital and Solana Capital, Orca announced Wednesday.
  • Orca will use the funding injection to continue developing its automated market maker (AMM).
  • Launched in February this year, Orca aspires to be the “go-to swap for the Solana ecosystem,” through creating a next-generation AMM with the simplest user experience.
  • Orca launched its governance last month and now has nearly $240 million in total value locked on its platform and $735 million in lifetime trading volume.

Read more: Solana Mainnet Back Online After Day in the Dark

Source: Coin Desk

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