Domination Finance, a Chicago, IL-based non-custodial, decentralized alternate for dominance pairs, raised $3.2m in seed funding.
The spherical was led by ParaFi Capital, another funding agency centered on blockchain and decentralized finance markets, with participation from such traders as Dragonfly Capital, AU21, Shima Capital, LD Capital, Huobi Ventures, OKEx BlockdreamVentures, KNS Group, GSR, CoinGecko and different angel traders.
Led by Adrian Kolody and Michal Cymbalisty, Domination Finance is a decentralized alternate for buying and selling dominance pairs. Constructed on the Common Market Entry (UMA) protocol, the corporate’s desktop and cell interfaces enable customers to take a position on dominance pairs and earn buying and selling charges by offering liquidity. The operational platform permits customers to commerce Bitcoin Dominance (BTCDOM), Ethereum Dominance (ETHDOM), and Tether Dominance (USDTDOM).
The corporate intends to make use of the funds to increase companies supplied on DomFi’s platform, which tracks the value of bitcoin versus the value of altcoins utilizing information offered by CoinGecko. Constructed on the Common Market Entry (UMA) protocol, Domination’s user-focused interface permits retail merchants to not solely analyze shifts in relative coin costs but in addition commerce on the general market dominance of Bitcoin, Ethereum, and Tether as simply as utilizing Twitter.