Solana-based Decentralized Exchange Slope Finance Raises $8M in Series A funding

Solana-community based decentralized exchange Slope Finance announced to complete the rasing of $8,000,000 in Series A funding, co-led by Solana Ventures and Jump Crypto.

Other investors include Circle. Sequoia China, Genesis Trading, CMS Holdings, Spark Digital, Huobi, etc.,

Slope Finance, the startup behind the Solana blockchain digital wallet, has raised a total of $10.3M in funding over two rounds.

As the most critical user touchpoint, the wallet acts as a gateway for exchanges and smart contracts.

It is reported that Slope Finance provides customers with a cross-platform wallet that can span three different fields: Solana Pay, Decentralized Finance (DeFi), and Non-Fungible Tokens (NFT). It can support users to transfer or exchange corresponding tokens across chains.

It is reported that the wallet has been widely downloaded up to 1 million times and has 850,000 monthly active users.

Matthew Beck, Partner at Solana Ventures, commented on the investment:

“We are excited to support Slope’s mission to provide a seamless, cross-platform experience for users to engage with Solana’s DeFi, NFT and gaming ecosystems,”

The funds will be used to expand the company’s team in the United States and recruit more high-quality talent to set up corresponding offices.

As reported by Blockchain.News on February 1, another Solana’s wallet named Phantom has secured a $109 million Series B investment led by cryptocurrency firm Paradigm.