CDS Startups Arrakis Finance Raises $4 Million in Seed Round
Startups

Arrakis Finance Raises $4 Million in Seed Round

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arrakis finance raises $4 million
arrakis finance raises $4 million

Arrakis Finance is a decentralized market–making protocol. 

About the Seed Funding Round

Arrakis had recently organized a seed funding round. Uniswap Labs Ventures, Accel, Polygon Ventures and Robot Ventures were among the participants in the seed round. According to a statement from Arrakis Finance co-founder Ari Rodriguez, no investor was leading the seed funding round. Ari Rodriguez also stated that the seed round, which started in May, closed in September. 

Ari Rodriguez Co-Founder of Arrakis Finance said: “Arrakis V1 quickly became the go-to venue for deploying liquidity on Uniswap V3, with over $1.8 billion total value locked or TVL accounting for 25% of all liquidity on the protocol at its peak. The most common use case for V1 vaults were managing tightly pegged pairs, for example, stablecoins like DAI-USDC.”

Arrakis was founded in April 2021 by Ari Rodriguez and Hilmar Orth. Hilmar Orth was one of the founding partners of Gelato Network, while Ari Rodriguez was working as a smart contract engineer at Gelato. The two, who have worked under the same roof in the past, are also involved in the Arrakis initiative together. 

Arrakis Finance, which managed to raise $ 4 million in the winter period of the crypto sector, plans to build and grow its team with this fund it has obtained. 

About Arrakis Finance

Arrakis is web3’s trustless market builder infrastructure protocol that enables running advanced algorithmic strategies in Uniswap V3.

SOURCE

Written by
Burak DANACI

The author focused on financial markets after graduating from Anadolu University, Department of Economics. After meeting with blockchain technology in 2019, he produces content on youtube and twitter in this field.

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