Blast Liquidity Market Fenix Finance Secures $300K In Seed Investment Round Led By Orbs

• Fenix Finance said that it will use these funds to build a unified trading and liquidity marketplace on the Blast network, leveraging Orbs’ technology to enable seamless token swaps.
• Orbs’ investment will bolster its existing support for Fenix as a technology partner, facilitating the imminent deployment of the Fenix Liquidity Hub powered by Orbs L3.

In a massive development, Blast liquidity market Fenix Finance has secured $300,000 in the seed investment funding round led by Layer 3 protocol Orbs. Fenix stated that it would use these funds to build a unified trading and liquidity marketplace atop the Blast network. 

Orbs’ investment will bolster its current backing of Fenix as a technology partner. Moreover, Fenix has also announced an imminent deployment of the Fenix Liquidity Hub, utilizing Orbs L3 technology. This hub will enable Blast users to seamlessly swap tokens at optimal prices by aggregating both on-chain and off-chain liquidity.

Orbs is a decentralized Layer-3 (L3) blockchain infrastructure tailored for sophisticated on-chain trading. It bridges CeFi-level execution to DeFi, improving trading through aggregated liquidity, advanced order types, and on-chain derivatives. Orbs boosts the functionalities of both EVM and non-EVM smart contracts while keeping liquidity within its existing chain infrastructure.

The use of Orbs technology is popular among protocols operating on several different EVM chains to deliver better on-chain liquidity and greater capital efficiency. Furthermore, Orbs has directly invested in several projects that utilize its technology, including IntentX, Thena, Harris and Trotter, and Symmio.

Here’s How Fenix Finance Plans to Boost Growth on Blast

Fenix Finance, the emerging player in the decentralized exchange (DEX) market on Blast, is preparing for rapid expansion following a successful seed funding round led by Orbs. Within less than two months since launching its Open Beta, Fenix has garnered significant traction, boasting over 5,000 active users and facilitating over $150 million in trading volume.

Orbs’ investment aims to accelerate Fenix’s protocol development, enhance liquidity provisions, and strengthen partnerships within the ecosystem. The funding will also bolster the advancement of Fenix Nest, a platform integrating essential features similar to those of the Curve ecosystem, such as vote delegation, optimization, and rewards auto-compounding.

With strategic technical support and guidance from Orbs, Fenix aims to solidify its position as the premier liquidity solution on Blast. Future plans include introducing new products and expanding its network of infrastructure partners. Fenix promises an extensive array of trading tools designed to offer unparalleled liquidity and user experience.

About Fenix Finance

Fenix serves as a consolidated trading and liquidity platform within Blast. This next-generation decentralized exchange offers advanced technology and efficient capital utilization, enhancing both user experience and liquidity depth. Fenix plays a crucial role in driving economic expansion across Blast by providing superior trading capabilities and robust liquidity solutions,