Decentralised Exchange Start-up GTE Secures $15M Series A Led by Paradigm

Co-founder Matteo Lunghi said the company’s primary target is retail traders who want to trade ‘anything from anywhere at any time.’

Quick take: Built on MegaETH, an Ethereum Virtual Device (EVM)-suitable blockchain, GTE follows an idea more similar to the NYSE than its fellow blockchain-based exchanges. Its platform uses a main order book (CLOB) to match buy and offer orders based on rate and time priority. GTE looks for to repair two significant problems found on DEXes: blind trust and high-order latency that is accompanied by unfeasible deal costs. GTE, a decentralised crypto exchange (DEX) platform, is looking for to end up being the ‘world’s fastest DEX, hand as raised $15 million in a Series A financing round solely anchored by Paradigm, according to reports on Monday. Built on MegaETH, an Ethereum Virtual Machine (EVM)-suitable blockchain, GTE follows a principle more similar to the NYSE than its fellow blockchain-based exchanges. GTE declares its platform addresses 2 major concerns with crypto blind trust and high-order latency that is accompanied by impractical deal expenses.

According to Coglitore, GTE has developed a main limit order book that updates at the precise very same latency as Binance or Coinbase without compromising core properties of a decentralised exchange, including non-custodial control of properties, composability, and permissionlessness. Paradigm’s Charlie Noyes and Caitlin Pintavorn hailed GTE’s ‘ideal mix of team and innovation’ as crucial to contending with centralised exchanges and AMMs like Uniswap and PancakeSwap.

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