EddieJayonCrypto
17 Sep 24
Yellow Network, a decentralized clearing network for digital assets, has closed a $10 million seed round led by Ripple co-founder Chris Larsen. The funding will be used to address challenges in decentralized finance (DeFi) trading, including liquidity fragmentation, scalability, and counterparty ris...
Yellow Network, a decentralized clearing network for digital assets, has secured $10 million in seed funding, led by Ripple co-founder Chris Larsen. The funding will address DeFi trading challenges, focusing on liquidity fragmentation and scalability issues. Notable investors include Consensys, GSR, and Moonrock Capital. The raised funds will primarily support research and development to finalize the open-source protocol and advance the Nitro state channel framework for near-zero latency in high-frequency trading. Yellow Network's decentralized clearing protocol leverages state channel infrastructure and chain abstraction to address liquidity fragmentation and scalability in DeFi trading. The protocol aims to create a blockchain-agnostic mesh network to aggregate liquidity, enhance interoperability, and prepare for the launch of the $YELLOW token in Q4 2024 to power transactions and improve capital efficiency. The company aims to tackle liquidity fragmentation, scalability, and counterparty risks in DeFi trading. The protocol is designed to aggregate liquidity, lower slippage across multiple chains, and plans to launch the $YELLOW token in Q4 2024. The funding will be allocated towards finalizing the open-source protocol and advancing the Nitro state channel framework to enable near-zero latency in high-frequency and institutional trading. Yellow Network's decentralized clearing protocol is built to address liquidity fragmentation and scalability in DeFi trading by leveraging state channel infrastructure and chain abstraction. The protocol connects brokers and exchanges across multiple chains, aggregating liquidity and lowering slippage. It aims to enhance interoperability and liquidity, making it easier for traditional institutions to trade digital assets safely within decentralized ecosystems. In addition, Yellow Network is preparing for the launch of the $YELLOW token, which will play a central role in powering transactions and enhancing capital efficiency within the ecosystem. A liquidity-locking campaign will accompany the token launch, allowing users to participate in the network’s expansion by supporting brokers with necessary collateral for smoother trades across multiple chains.