Rho Labs, the London, UK-based builder of Rho Protocol, an on-chain, non-custodial interest rate futures and swaps market, raised $2.2M in Pre-Seed funding.
The round was led by Speedinvest, with participation from Keyrock, Re7 Capital, Daedalus Collective, and Dmitry Tokarev,
The company intends to use the funds to expand operations and its business reach.
Led by Alex Ryvkin, Founder and CEO, Rho Labs enables on-chain rates trading through proprietary concentrated liquidity Virtual Automatic Market Maker (vAMM) and margin engine. It enables users to trade rates such as staking rewards and perpetual funding rates, 24/7, free of counterparty risk, and with extreme capital efficiency. The company aims to create a capital-efficient market for crypto-specific rates, such as staking, digital asset lending, and funding rates, to enable the same advantages for institutional crypto traders. A private beta of Rho’s market on Arbitrum will be launched with a select set of global trading partners later this year.
FinSMEs
16/11/2023