News23 September 2021

Orca DEX DeFi Platform on Solana Raises $18 Million as AMM records Over $300 Million TVL

Orca DEX Solana Raises $18 Million

Summary

  • Orca DEX has announced the successful completion of Series A funding
  • Orca raised $18 million from lead venture capitalists
  • Orca has $300 million TVL
  • Solana value has risen by more than 5000% in 1 year

Orca, a DEX platform on Solana, has announced the successful completion of a Series A funding that has raised $18 million. According to Orca, this investment will jumpstart their path towards making the platform the most preferred swap on Solana.

Over the last 12 months, Solana has experienced a significant increase in value, having gained more than 5000%. This has attracted developers for different DeFi projects to the platform, including Senswap, Serum, Solanax, Solaris, Parrot, Solrise, Spiderswap, Dexlab, Solend, Port, Sypool, and Hydraswap.

Orca currently has more than $300M TVL. The $18 million successful funding round was led by Three Arrows, Polychain, and Placeholder, with participation from other crypto venture capitalists like Zee Prime, Defiance, Solana Capital, Coinbase Ventures, Jump Capital, Sino Global Capital, and Collab & Currency.

“Not only is Orca responsive and affordable, but it is finance made fun, with a cheery experience, community, and broader values-based mission. It’s teams like Orca that will bring crypto to the mainstream and redefine how we think of finance in our everyday lives.” Placeholder partner Chris Burniske.

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