Slope Finance Announces $2.3 Million Seed Round Backed By Alameda Research, Solana Capital, Etc.

The following post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga.

Slope Finance, a community-based decentralized exchange built on Solana, has announced that it has recently raised $2.3 million in seed funding from Alameda Research, Solana Capital, GSR, Rarestone Capital, SkyVision Capital, Fundamental Labs, NGC Ventures, Signum Capital, Ausvic Capital, 0xVenture, and Krypital Group.

Slope Finance will provide users with blazing-fast transaction speeds with minimal fees, a choice of trading bots, and an intuitive interface for users. This is seen as an important milestone for the team to continue cultivating the Solana ecosystem, following the team’s prize of being the only Serum Prize Winner at the Solana Season Hackathon 2021. 

According to Slope’s tech lead, Solana's infrastructure has seen continued growth and Slope hopes to seize the opportunity of making its product portfolio a key gateway into the Solana ecosystem through an excellent user experience and rich services. 

The Solana Ecosystem Continues To Flourish 

In recent months, Solana has grown to become the 10th largest cryptocurrency by market cap, highlighting the immense growth of its community. Arguably Ethereum’s most threatening competitor, Solana offers a solution to high gas fees currently seen on the Ethereum blockchain. The ecosystem also has the support of leading developers and investors. In June, Solana closed a $314 million fundraise led by Andreessen Horowitz and Polychain. 

For Slope, the importance of building on a fast-growing blockchain means focusing on ease of use for new user onboarding. This includes a focus on mobile applications as a large portion of cryptocurrency users are mobile-first. In fact, a recent report found that nearly 82% of Coinbase’s Q1 active users were trading on Coinbase’s mobile app. 

Slope Wallet will also focus on a strong user experience as a cross-platform gateway that will be non-custodial and allow storage of both Solana and Ethereum assets, not to mention provide access to DeFi, NFTs, and DApps. Over the next few days the Slope team expects to share more about their ongoing projects, including latest development of partnerships and products such as Slope Wallet and Slope DEX. 
 

Image by StartupStockPhotos from Pixabay

The preceding post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga. Although the piece is not and should not be construed as editorial content, the sponsored content team works to ensure that any and all information contained within is true and accurate to the best of their knowledge and research. This content is for informational purposes only and not intended to be investing advice.