Electric Capital leads $4.5M investment in NEAR Exchange Trisolaris
Trisolaris is a decentralized exchange based on the Near protocol. announced a strategic investment led by Electric Capital with participation from Jump Crypto, Dragonfly Capital, Leminscap and Ethereal Ventures, among others. According to the company, $4.5 million was invested in Trisolaris’ decentralized autonomous organization (DAO), according to an email.
According to Trisolaris, $230.7 million is the total value of Trisolaris that has been locked onto the Aurora engine. DeFiLlama. Developers can create Ethereum-compatible contracts with the Aurora engine and deploy Solidity code to the layer 1 Near blockchain.
Near’s Aurora raised $12 million in funding in October, and Near followed with a $100 million funding round in January.
Trisolaris will make use of the capital to grow its team and continue investing in key product areas. Near-term goals include improving the trading experience, infrastructure, and launching Decentralized Finance (DeFi) primitives. These primitives escrow or custodian funds directly in a smart-contract and cross-chain swaps among Near and Aurora.
It is also planned to revise the tokenomics that underlie the native TRI token as well as integrate the token into additional Near ecosystem projects.
Trisolaris’ new stableswap product allows users to swap money across multiple automated market maker (AMMs), all from one interface. Trisolaris plans to increase the product’s liquidity to more than $500 million.