Fenix Finance Secures $300,000 Seed Funding From Layer 3 Protocol Orbs to Build Unified Trading and Liquidity Marketplace on Blast Network

In a massive development, Blast liquidity market Fenix Finance has secured $300,000 in the seed investment funding round led by Layer 3 protocol Orbs.

Blast liquidity market Fenix Finance has secured $300,000 in a seed investment funding round led by Layer 3 protocol Orbs.

The funds will be used to build a unified trading and liquidity marketplace atop the Blast network.

Orbs’ investment adds to its current role as a technology partner to Fenix.

The Fenix Liquidity Hub, powered by Orbs L3 technology, will soon be deployed.

The hub will allow Blast users to easily swap tokens at the best prices by aggregating both on-chain and off-chain liquidity.

Orbs is a decentralized Layer-3 (L3) blockchain infrastructure designed for advanced on-chain trading. It brings CeFi-level execution to DeFi, enhancing trading with aggregated liquidity, advanced order types, and on-chain derivatives.

Orbs augments the capabilities of both EVM and non-EVM smart contracts, keeping liquidity within its existing chain infrastructure.

Orbs technology is used by protocols operating on multiple EVM chains to provide better on-chain liquidity and capital efficiency.

In addition to Fenix Finance, Orbs has directly invested in several projects that utilize its technology, including IntentX, Thena, Harris and Trotter, and Symmio.

Fenix Finance is the first decentralized exchange (DEX) on Blast, and it is preparing for rapid growth following a successful seed funding round led by Orbs.

In less than two months since launching its Open Beta, Fenix has attracted over 5,000 active users and facilitated more than $150 million in trading volume.

Orbs’ investment will be used to accelerate Fenix’s protocol development, enhance liquidity provisions, and strengthen partnerships within the ecosystem.

The funding will also support the advancement of Fenix Nest, a platform that will integrate essential features similar to those of the Curve ecosystem, such as vote delegation, optimization, and rewards auto-compounding.

With strategic technical support and guidance from Orbs, Fenix is aiming to become the premier liquidity solution on Blast.

Future plans include introducing new products and expanding its network of infrastructure partners. Fenix will offer a comprehensive suite of trading tools designed to provide optimal liquidity and user experience.

About Fenix Finance

Fenix is a consolidated trading and liquidity platform within Blast. The next-generation decentralized exchange features advanced technology and efficient capital utilization, enhancing both user experience and liquidity depth.

Fenix plays a crucial role in driving economic expansion across Blast by providing superior trading capabilities and robust liquidity solutions.