Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

Marginfi Bags $3M to Build First Cross-Margining Engine on Solana

Published 02/24/2022, 12:15 PM
Updated 02/24/2022, 12:30 PM
Marginfi Bags $3M to Build First Cross-Margining Engine on Solana

  • DeFi-based Marginfi has raised $3 million in a seed funding round.
  • Marginfi aims to use the fund to deploy a cross-margining engine on Solana.
  • The fundraising program was led by Multicoin Capital and Pantera Capital.

Mrgn Labs announced that its $3 million seed round fund will be used to develop Marginfi, a first-of-its-kind cross-margining engine on the Solana blockchain. Marginfi will provide the mentioned services while embracing the innovative concept of DeFi.

The Marginfi fundraising event was co-led by Multicoin Capital and Pantera Capital. Venture capitals Solana Ventures and Sino Global Capital participated as well. Aside from the venture capitals, angel investors contributed massively.

Mrgn Labs Founder, Edgar Pavlovsky, explained:

In 2021, we saw an explosion of innovative financial products emerge across Defi. The problem is the trading experience is now extremely fragmente ...

Continue reading on CoinQuora

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.