Cointime

Cointime

Download App
iOS & Android

Siphon Lab Has Successfully Closed a $1.2M Seed Round Fundraising

Cointime Official

Crypto DeFi startup Siphon Lab has recently closed a successful $1.2 million fundraising seed round ahead of its beta launch. The funding was led by Kima Ventures, with participation from Waveline Capital, BT Growth Capital, Uno Ventures, Quidnet Ventures, and Mava Ventures, among other notable angel investors in the web3 and web2 industry. The seed round funding will be used to accelerate Siphon’s development, expand its team and scale its operations to meet the increasing demand for its services.

“We are excited to have the support of Kima Ventures and other highly reputable investment firms,” said Jeffrey Cato, co-founder and CEO of Siphon Lab. “Their experience and resources will be valuable as we continue to grow and scale our business to provide financial technology solutions to bring more users to SUI Network. Our team has the skills, experience, and network to create one of the top solutions in the market.”

About Siphon Lab

Siphon Lab is on a mission to build the Siphon Universe on the Sui network. Siphon Universe includes the Siphon ecosystem, which consists of Tradeify and Liquidify and many other innovative products that will be launched in the future

Tradeify is a decentralized derivative trading protocol offering zero price impact trading, up to 100x leverage, self-custody, aggregated liquidity, and an optimized on-chain trading experience, while Liquidify is the premier liquid staking protocol built on top of the SUI blockchain that aims to unlock the value of all staked SUI and maximize the capital efficiency of SUI across the ecosystem. Liquidify is the premier liquid staking protocol built on top of the SUI blockchain that aims to unlock the value of all staked SUI and maximize the capital efficiency of SUI across the ecosystem.

DeFi
Comments

All Comments

Recommended for you

  • Hassett: Confident Waller Will Assume Fed Chair Position in May

    Hassett, the Director of the National Economic Council at the White House, expects that Powell will not remain as a Federal Reserve governor. He is confident that Waller will assume the position of Fed Chair in May.

  • Becerra: It's Time to Submit the CLARITY Act for President Trump's Signature

    On April 9, U.S. Treasury Secretary Becerra stated that Congress has spent nearly five years attempting to pass a framework to ensure the future development of the financial industry. Now is the time for Senate Banking Republicans to review and submit the CLARITY Act for President Trump's signature.

  • Binance Officially Launches Prediction Market

    On April 9, Binance announced the launch of its prediction market, a new feature that allows users to participate in probability-based markets through integration with third-party platforms from the Binance app. The Binance wallet will integrate market access provided by Predict.fun, a leading on-chain prediction market provider on the BNB Smart Chain (BSC). In the Binance App, go to the [Markets] tab. Click on the [Prediction] tab (available only in supported regions). Select a category to browse available markets offering real-time probability pricing.

  • Iranian Military Spokesman: 'Prepared for Long-term War'

    According to the Iranian Students' News Agency on the 9th, the Iranian military spokesman expressed hope for reaching an agreement in the ceasefire negotiations, but stated that if the talks fail, 'we are also prepared for a long-term war.' The conditions proposed by Iran will serve as the basis for the negotiations. (Xinhua News Agency)

  • US Spot Bitcoin ETF Sees Net Outflow of $124.25 Million Yesterday

    On April 9, according to monitoring by Trader T, the US spot Bitcoin ETF experienced a net outflow of $124.25 million yesterday.

  • US Spot Ethereum ETF Sees Net Inflow of $13.84 Million Yesterday

    On April 9, according to monitoring by Trader T, the US spot Ethereum ETF saw a net inflow of $13.84 million yesterday.

  • BTC Falls Below $71,000

    Market data shows that BTC has fallen below $71,000, currently priced at $70,997.18, with a 24-hour decline of 0.52%. The market is experiencing significant volatility, so please ensure proper risk management.

  • BTC Drops Below $71,000

    Market data shows that BTC has fallen below $71,000, currently priced at $70,989.94, with a 24-hour increase of 4.15%. The market is experiencing significant volatility, so please ensure proper risk management.

  • Ethereum Foundation Plans to Sell 5,000 ETH to Fund R&D, Grants, and Donations

    On April 8, the Ethereum Foundation announced on the X platform that it will exchange 5,000 ETH for stablecoins today using CoWSwap's TWAP feature, as part of its ongoing efforts to fund research and development, grants, and donations.

  • Iran to Charge Fees for Vessels Transiting the Strait of Hormuz, Payments Acceptable in Digital Currency

    According to market news, Hamid Hosseini, spokesperson for the Iranian Oil, Gas and Petrochemical Exporters Union, stated on Wednesday that during a two-week ceasefire, Iran will require vessels to pay a toll to transit the Strait of Hormuz. All goods will be allowed to pass, but the clearance procedures for each vessel will take time. Each tanker must first send the details of its cargo via email to be informed of the fees, which can be paid using digital currencies, including Bitcoin.

Daily Must-Read

Popular Activities

RaveDAO at Terra Solis by Tomorrowland: A Female-Led Techno Night Where Web3 Culture Converges

RaveDAO at Terra Solis by Tomorrowland: A Female-Led Techno Night Where Web3 Culture Converges

April 30 - April 30
Dubai

Popular Tags

Cointime
News
Contents
RSS
Company