Switcheo Network Raises $1.2 million in Strategic Investment Led by DeFiance Capital

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