Orca ($ORCA), a decentralized exchange (DEX) based on the Solana blockchain, has announced a $18 million Series A financing round headed by some of the industry's most well-known investors. Orca has completed on a $18 million Series A financing round headed by Polychain, Placeholder, and Three Arrows Capital. Other investors in the round of financing included Jump Capital, Sino Global Capital, Collab+Currency, DeFiance Capital, Zee Prime, Coinbase Ventures, and Solana Capital.
Orca, which debuted in February, bills itself as "Solana's simplest, quickest, and most user-friendly AMM." The DEX, according to Kyle Davis, co-founder of Three Arrows Capital, is a "essential addition" to the Solana ecosystem.
The Orca team plans to utilize the additional financing to continue building its platform as the “most capital-efficient and user-friendly automated market maker (AMM) in the Solana ecosystem,” according to the article.
We're working on a smart contract that, even with the same level of liquidity, will allow for more capital-efficient transactions (lower slippage) than our existing smart contract.
Orca has distinguished itself from other DEXs, according to the study, by adding user-friendly trading features like the "Fair Price Indicator" and the "Magicbar."
Orca is "responsive and cheap" for users, according to Chris Burniske, a partner at Placeholder, while also making investing a pleasant, "cheery" experience.
Orca now has approximately $740 million in total value locked (TVL) on its platform, according to Defi Llama statistics; this is $500 million more than the TVL number only nine days ago.
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