GammaX Raises $4 Million for its Hybrid Crypto Exchange

30.08.2022 09:32
by Maksym Prykhodko
1 min read

GammaX announced that it has received $4 million in investments directed toward its upcoming crypto derivatives exchange. StarkWare, Cobo, and Genesis Trading are listed among the investors.

According to GammaX’s representative, the company is looking to create the most advanced crypto exchange available to traders. For this purpose, GammaX will be a hybrid exchange, built on the StarkEx layer-2 solution, featuring aspects of both centralized and decentralized exchanges.

Namely, the platform’s order book will be kept outside of the blockchain, while operations with users’ funds are conducted through smart contracts. However, GammaX might transform into a fully decentralized exchange in the future, once the blockchain infrastructure is sufficiently mature.

The current plan is to launch testnet versions, for beta testing purposes, in the next few weeks. If everything goes according to plan, GammaX should launch on mainnet in fall 2022.

Author

  • Maksym has denied the existence of crypto as an asset for 3 years when he was working with standard financial instruments. Became Head of Treasury. Won the best bank employee award and left the bank for cryptocurrency exchange the next day. Got a second university degree, but that didn’t stop him from studying finance yet. Combines fiat and crypto experience to be as objective as possible in general matters. His dream is to be interviewed by Bloomberg.

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