ChainCatcher reports that, according to The Block, the well-known crypto venture capital firm Paradigm exclusively led a $15 million Series A funding round for the decentralized exchange startup GTE.
The GTE founding team stated that the platform uses a centralized limit order book (CLOB) mechanism, with trading latency comparable to centralized exchanges like Binance and Coinbase, while maintaining decentralized characteristics.
GTE aims to solve the "blind trust" issues of centralized exchanges and the high latency and high costs of traditional DEXs. The platform has been built on the MegaETH blockchain, which is compatible with EVM, and its testnet has attracted approximately 700,000 users.
ChainCatcher previously reported that the decentralized exchange GTE, based on the MegaETH blockchain, has raised $10 million through three funding rounds, including a $1.5 million Pre-Seed funding, $6.942 million seed round, and a $2.5 million community funding from Echo.
GTE's investors include Maven 11, Wintermute, Flow Traders, Robot Ventures, IMC Trading, Guy Young from Ethena, Max Resnick from Anza, and an undisclosed trader from Jump Trading.
