Decentralized exchange GTE completes $15 million Series A financing, led exclusively by Paradigm

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MarsBit
06-23
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Mars Finance News: Paradigm recently announced leading an exclusive Series A funding round of $15 million for the decentralized exchange platform GTE (Global Token Exchange). The platform claims to be the "world's fastest DEX" and aims to challenge the performance of centralized exchanges like Binance and Coinbase. GTE co-founder Enzo Coglitore stated that the platform is built on a central limit order book (CLOB), with order matching latency comparable to centralized exchanges while maintaining core characteristics such as "decentralization, permissionless, composability, and non-custodial", dedicated to solving current DEX issues like "high order latency and high transaction costs". Paradigm partners Charlie Noyes and Caitlin Pintavorn expressed their optimism about the GTE team and technical stack, believing it has the potential to compete with centralized exchanges and AMM protocols like Uniswap and PancakeSwap. GTE is currently built on MegaETH, an EVM-compatible public chain, with its testnet launched early this year, attracting around 700,000 users for testing. It is reported that GTE has previously raised $10 million in pre-seed, seed, and community rounds, supported by early community members and platform users.

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