According to PANews, the privacy-centric Layer 1 blockchain project Defx has successfully raised $2.5 million in a seed funding round. The investment was led by notable firms including Pantera Capital, CMT Digital, gumi Cryptos Capital (gCC), Baboon VC, CoinShares Ventures, Robot Ventures, and Cadenza. Additionally, Polygon co-founder Sandeep Nailwal and Liminal founder Mahin Gupta participated in the funding.
Defx is a decentralized exchange designed specifically for high-performance perpetual contract trading, utilizing a Layer 1 blockchain optimized for this purpose. The platform operates within a private 'dark pool' execution environment, where order information is encrypted using zero-knowledge proof technology, ensuring both privacy and on-chain verifiability.