Paradigm, a decentralized relay protocol for smart contract-based liquidity management, announced that it has closed a $1 million seed round led by PolyChain Capital to develop its Relay Protocol, a decentralized order book connecting every crypto exchange.
Paradigm Raises Seed Round Led by Polychain Capital for Relay Protocolhttps://t.co/uu0NIXK2n6
— Paradigm Labs (@ParadigmMarket) October 16, 2018
According to the announcement, Paradigm plans to build off the success of 0x (ZRX), which has developed a system of Ethereum smart contracts that facilitate the wallet-to-wallet exchange of funds. With Paradigm’s system, its possible not only to settle in a decentralized matter but to also relay orders.
“Paradigm abstracts the model of proprietary liquidity by allowing exchanges and traders to gain access to a single, global liquidity pool,” states the Paradigm team.
Paradigm works to unify the highly fragmented pools of liquidity that cross the hundreds of digital currency exchanges, and the company aims to build its protocol as a platform for or third parties to build and trade sophisticated financial instruments.
Dragonfly Capital and Chapter One also participated in Paradigm’s seed round.
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