Funding Success: GlobeDX’s Latest Round
On Wednesday, Globe Derivative Exchange, or GlobeDX for short, celebrated a hefty addition to its coffers, successfully raising a remarkable $18 million in a fresh funding round. Notably, the round saw participation from prominent names such as Y Combinator and Tim Draper’s Draper Dragon fund, among others. Also joining the party were crypto heavyweights like OKEx and Pantera Capital. Talk about a star-studded lineup!
What’s in Store for GlobeDX Users?
Set to launch in early May, GlobeDX is poised to offer an impressive trading platform that allows users to dip into major cryptocurrencies like Bitcoin (BTC) and Ether (ETH). However, it’s not just your average trading experience. The exchange will feature up to 100x leverage through perpetual futures contracts, specifically aimed at those ready to take their trading strategies to the next level.
Meet the Minds Behind GlobeDX
The brains behind this ambitious project are the dynamic duo of Shaun Ng and James West, both alumni from the Y Combinator incubator. They’ve already made strides by allowing users to set up accounts and trade using Testnet Bitcoin, proving that practical steps are being taken in advance of the official launch.
A Vision for the Future
“We’re working closely with our investors and strategic partners to deliver innovative products for our traders on Globe,” says GlobeDX CEO West. He hints that trading DeFi perpetuals on an exchange designed by traditional finance veterans is going to offer traders a new twist in their trading game. A little bit of traditional finance savvy mixed with the wild world of crypto? Sounds intriguing!
Funding Past and Future: The GDT Token
With this latest funding round, which adds to a previous $3 million equity raise completed in November 2020, GlobeDX is not slowing down. The company announced that these funds will help fuel an upcoming token sale involving the Globe Derivatives Token (GDT). The GDT token isn’t just for show—users can look forward to trading fee discounts, staking rewards, and much more!
As Pantera Capital’s Franklin Bi pointed out, “The Globe team has been building quietly, and we think now’s the perfect time for them.” With tough competition like BitMEX facing challenges and the DeFi space capturing the interest of seasoned investors, GlobeDX appears to be stepping in at just the right moment.
