Surf Protocol raises...

Surf Protocol raises $3M to develop first permissionless perp DEX

By Cointelegraph October 30, 2023 In Perpetual Protocol

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Blockchain firm Surf Protocol has secured $3 million in a funding round led by ABCDE Capital, with significant participation from OP Crypto and C2 Ventures. The raised capital will be utilized to develop the first permissionless perpetual decentralized exchange (Perp DEX), set to be launched on Base.

Innovating the Perp DEX Space

Surf Protocol is pioneering a solution to a significant challenge in the Perp DEX market – the limited range of tradable assets. The protocol is at the forefront of innovation with its unique AMM structure, offering Liquidity Providers (LPs) the flexibility to strike a balance between securing high fees and prioritizing their position for order matching. This distinctive framework paves the way for the creation of a myriad of liquidity curve shapes tailored to the unique characteristics of different assets.

Surf Protocol’s aim is to provide users with a wide variety of tradable Perp assets, all the while maintaining the lowest possible fees. This strategy is expected to enhance the competitiveness of Perp DEXs and increase their market share against centralized exchanges. With its innovative approach, Surf Protocol is poised to redefine the dynamics of the crypto trading landscape.