Vega announced raising 5 million U.S. dollars in a seed round led by Pantera Capital. This development was reported on 02 October.
The editor at Vega Protocol started the blog by informing that their goal was similar to that of Pantera Capital. Both the entities looked forward to catching up with the latest markets. The editor sustained by adding that other participants in the funding round included Hashed, Xpring, and several such eminent bodies. The editor further added that the news was encouraging considering using the protocol to scale decentralized margin trading.
Barney Mannerings, founder and shareholder of Vega Holdings Limited cited –
“We support the right to collaborate and trade freely. Privileged institutions and gatekeepers have for too long kept the financial system rigid and rigged in their favour. It is neither desirable nor necessary for market participants to be subject to profiteering, monitoring, and control by those privileged institutions.”
The editor went on to explain that traders would be benefited from Vega’s software to execute a fair and transparent transaction. They would be much at advantage to use a peer-to-peer mechanism. The editor highlighted a point of significant insight citing that the involvement of middlemen would be cut off. The presence of middlemen was rather a big problem and now traders also have access to global markets.
The editor continued noting the many benefits extended by the protocol. The editor drew a distinction quoting that the protocol offered many benefits compared to blockchains like Ethereum or Bitcoin. The editor clarified that the Vega protocol endeavors to reduce functional overheads while also fostering swiftness of execution compared to peers. The editor summarized by adding that consumers could create new financial instruments.
Elementus, a company focused on providing insightful analytics related to blockchain, announced raising a sizeable fund. The amount raised was an estimated 3.5 million U.S. dollars. Elementus emphasized that its goal was to help industries make practical use of decentralized data. The blockchain analytics company went on to add that it endeavors to achieve its purpose by enabling different stakeholders to understand information. Elementus noted the role of participants led by Morgan Creek Digital with other key fintech firms.