Marginfi Bags $3M to Build First Cross-Margining Engine on Solana
- DeFi-based Marginfi has raised $3 million in a seed funding round.
- Marginfi aims to use the fund to deploy a cross-margining engine on Solana.
- The fundraising program was led by Multicoin Capital and Pantera Capital.
Mrgn Labs announced that its $3 million seed round fund will be used to develop Marginfi, a first-of-its-kind cross-margining engine on the Solana blockchain. Marginfi will provide the mentioned services while embracing the innovative concept of DeFi.
The Marginfi fundraising event was co-led by Multicoin Capital and Pantera Capital. Venture capitals Solana Ventures and Sino Global Capital participated as well. Aside from the venture capitals, angel investors contributed massively.
Mrgn Labs Founder, Edgar Pavlovsky, explained:
In 2021, we saw an explosion of innovative financial products emerge across Defi. The problem is the trading experience is now extremely fragmente ...
Read more: https://coinquora.com/marginfi-bags-3m-to-build-first-cross-margining-engine-on-solana/
Text source: News – CoinQuora – Latest Cryptocurrency and Block
