Crypto market maker Arrakis Finance raises $4 million in seed funding, with participation from Uniswap Labs Ventures and others

ChainCatcher news, the crypto market maker Arrakis Finance announced a $4 million seed round financing, with participation from Uniswap Labs Ventures, Accel, Polygon Ventures, and Robot Ventures. It is reported that this round of financing is secured through a Simple Agreement for Future Tokens (SAFT). The round started in May and ended in September. The funds will be used to expand the team and build the protocol.

Arrakis Finance launched the first version of its protocol in April last year, allowing algorithmic strategies to operate on Uniswap V3. Last week, Arrakis Finance launched V2 of its protocol, which "can be seen as an abstraction layer on top of AMMs like Uniswap V3, supporting interactions such as Central Limit Order Books (CLOB)." (The Block)