Switcheo Network has received $1.2 million in a round of strategic investment led by DeFiance Capital, according to a blog post published on Nov. 5.

• With the investment, Switcheo will partner with DeFiance Capital and the other funding participants, which include Three Arrows Capital, Digital Assets Capital Management, DeFi Capital and MXC Exchange.
• The funding and cooperation will focus on developing new features, scaling the protocol to reach a larger user base and strengthening market presence
• Launched in 2017, Switcheo is building a cross-chain liquidity and derivatives trading protocol; the team has accelerated development in 2020, integrating Uniswap’s liquidity reserves in July 2020
• A Huobi mining pool has also joined Switcheo Network as a validator
• The team is currently concentrating its development efforts on Demex, a layer-2 DEX built on the Switcheo TradeHub, an open source order matching engine built on Tendermint
• Demex will give users other additional investment vehicles, such as futures, bonds and options