MCDEX Closes $7M Investment

We are excited to announce that MCDEX has raised a $6M led by Delphi Ventures and Alameda Research along with $1M from our community with all the same terms applied.

Other participants in this round included Multicoin, Fenbushi Capital, Defiance, Incuba Alpha, D1 Ventures, Defi Alliance, NGC, IOSG, Zeuth, OKEx Blockdream Ventures, Horizon Capital, Bixin Ventures, Digital Renaissance Foundation, Mask Network, Shata Capital, Finlink, Plutus.vc, Magic Ventures, ZBS Capital, and Meltem Demirors.

“Delphi is proud to back MCDEX, a differentiated derivatives exchange that allows for single sided liquidity provision and uses both a funding rate and pricing arbitrage together to enable perps that trade more in-line with their outside prices. Jean, Jie and the entire team are relentless, smart and founders we love to back”

- Tom Shaughnessy, GP at Delphi Digital

We are happy to reiterate our commitment to support the MCDEX team. The upcoming launch of their V3 mainnet is a testament of the team’s hard work and continuous innovation. DeFiance Capital is proud to support Liu Jie and his team in this exciting journey.

— Arthur Cheong, Founder of DeFiance Capital

“I met the MCDEX team a couple years ago and worked with them fairly closely within the DeFi Alliance accelerator program. They have consistently proven their ability to execute, to learn from users, and to iterate. Those are by far the most important qualities when it comes to building a derivatives platform. I’m very excited about their latest upgrade which will be on layer 2”

- Qiao Wang, Co-Founder of DeFi Alliance

Multicoin is excited to support MCDEX as part of our exploration in the decentralized Bitmex space. The multichain / L2 approach with a strategic prioritization that MCDEX is taking is an optimal one — it allows MCDEX to capture early mover advantage on L2 like Arbitrum. The permissionless pool setting with a governance component is an interesting attempt to decentralize the risk management. Looking forward to seeing the improved trading experience with better performance blockchains.

- Mable Jiang, Partner of Multicoin

All of the funds will go to MCDEX DAO. With mainnet launch across the corner, the fresh capital will be used to bootstrap the liquidity of upcoming V3 through governance.

This is a vital milestone for us. The robust MCDEX community is thrilled to welcome all the investors who share our vision of bringing perpetual to DeFi. Powered by Arbitrum, MCDEX V3 will enable permissionless creation of perpetual markets with top of the market liquidity. We have been building the product relentlessly to bring supreme user experiences to traders. Being fully permissionless, we are able to empower our community to flourish in the MCDEX ecosystem. We believe derivatives powered by the MCDEX community will play an important role in the growth of the universal decentralized financial system.

Mainnet in May

We will launch concurrently with Arbitrum. MCDEX V3 will be deployed on Arbitrum mainnet on May 28th for testing and once ready, MCDEX V3 will launch in public.

To our dearest maczombies, thank you for all your support thus far. The effort pays off as we strive to fulfill what is required by the market and the community. Please keep up the great vibe and invite your friends!

About MCDEX

Follow MCDEX on:

Building MCDEX V3 (Decentralized Perpetual) | Trade #PerpetualContracts - #Permissionless #1000x Uni’s capital efficiency #Anyone can create any market