Econia Labs, the company pioneering a high-performance order book protocol for the Aptos blockchain, has secured $6.5 million in seed funding. The investment round was led by Dragonfly, with participation from Lightspeed Faction, Wintermute Ventures, Hudson River Trading, Flow Traders, Aptos Labs, and others.
The Econia protocol offers a fully on-chain settlement layer designed for maximum capital efficiency. Built on the Aptos blockchain and in close collaboration with the Aptos Labs core team, Econia enables integrations for a host of applications, ranging from spot trading to leveraged perpetual futures.
“We recognize significant utility in a blockchain-based order book that empowers integrating protocols to efficiently utilize capital on-chain,” said Alex, CEO of Econia Labs. “Our goal is to support an extensive trading ecosystem that leverages the Move programming language and Aptos’ Block-STM execution engine, and being backed by these notable investors is a major step in that direction.”
Kadin Donohoe, who led the investment at Dragonfly commented, “Amidst continued turbulence for CEXs, the need for decentralized order books is clear. Econia Labs has leveraged Aptos’s architecture to support atomic matching on-chain, and we are proud to support their vision for transparent, open markets.”
Econia Labs’ website is at econialabs.com and their official Twitter account is @EconiaLabs.
About
Econia Labs is building a cutting-edge, hyper-parallelized on-chain order book for the Aptos blockchain. Crafted to deliver unparalleled performance at web-scale, Econia harnesses the power of Aptos’ Block-STM execution engine for unrivaled performance and seamless composability. Serving as a foundational settlement layer, Econia paves the way for a diverse array of DeFi applications to flourish on its robust platform.