Hedging solutions provider Alkimiya has raised nearly $7 million in funding from a round led by 1kx and Castle Island Ventures.
The crypto industry continues to expand with new projects and cryptocurrencies. Especially in the last year, millions of dollars of funding have been provided to many crypto money projects. The number of crypto projects receiving support is increasing. Finally, Alkimiya received strong support on its way to build decentralized capital markets for the blockspace. The project raised $7.2 million from an investment round led by 1kx and Castle Island Ventures.
Alkimiya Raised $7.2 Million from Strong Investors Round
The new crypto project Alkimiya is taking strong steps towards decentralized capital markets. The project managed to receive support from many investors with the solutions it offered. Dragonfly, Circle Ventures and Coinbase Ventures also participated in Alkimiya’s investment round, which raised $7.2 million.
Founded by Zhang, Alkimiya targets hedging solutions for miners, staking and validators. “Traditional commodity companies such as oil or gold companies use futures and options to hedge against production risks,” Zhang said. The problem with Blockspace manufacturers is that they can hedge against the price of BTC or ETH, but they don’t actually know how much BTC or ETH to hedge.” said.
Alkimiya has already managed to enter the radar of large companies with its innovative and solution-oriented project.
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