Kuru Labs Raises $11.6M to Revolutionize DeFi on Monad

Funding Success for Kuru Labs

Kuru Labs, a promising player within the decentralized finance (DeFi) sector, has successfully secured $11.6 million in a Series A funding round. This round was spearheaded by Paradigm, a well known investment firm with a keen concentrate on the crypto landscape.

Innovative Developments on the Monad Blockchain

This funding injection is about to propel the event of a central-limit orderbook (CLOB) on Monad, a lightning-fast iteration of Ethereum. This isn’t Monad’s first rodeo with Paradigm; they previously supported Monad with a hefty $225 million investment last 12 months.

How CLOBs Work

So, what’s a CLOB? In easy terms, it’s a trading system that prioritizes buy and sell orders by time and price. Traders send of their orders at pre-set prices, and these orders only execute if the value matches. This mechanism ensures fair and efficient trading.

Key Players within the Investment

Besides Paradigm, Kuru Labs’ funding round attracted quite a lot of angel investors. Notable names include Viktor Bunin from Credibly Neutral, Zagabond, Tristan Yver, Alex Watts, Jordan Hagan, 3nes, Will Price, Shreyas Hariharan, Auri, and Joe Takayama, amongst others.

Building the Future of Liquidity

According to a recent blog post by Kuru Labs, they’re on a mission to determine the leading liquidity hub for Monad. Their vision features a high-performance central-limit orderbook integrated with a discovery and trading terminal, liquidity provision features, and a token launchpad.

Leveraging Monad’s globally decentralized network, Kuru Labs goals to streamline liquidity across the ecosystem. Their hybrid CLOB-AMM model is designed to take care of composability and democratize access, making liquidity provisioning more inclusive and accessible.

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