Reya Labs Secures $10 Million Funding for Blockchain Growth

Reya Labs Secures $10 Million Funding for Blockchain Growth

Reya Labs Secures $10 Million Funding for Blockchain Growth

Reya Labs, creators of the Reya Network Layer 2 blockchain and Reya exchange, secured $10 million in funding led by Robot Ventures.

Funding for Reya Labs, developers of the Reya Network Layer 2 blockchain and Reya exchange, totaled $10 million. The round was spearheaded by Robot Ventures, Amber Group, Framework Ventures, Fabric Ventures, Wintermute, Brevan Howard, and Coinbase Ventures. This money will support the continuous development of its trading-friendly modular platform.

To meet the demands of liquidity providers and decentralized finance (DeFi) traders, Reya Network is designed to provide deep liquidity, efficient capital usage, and high performance.

The investment in Reya Network allows for a passive pool of liquidity, which in turn facilitates trade. This mechanism promotes shared liquidity among all Reya ecosystem exchanges, improving market depth, entrance barriers, and user experience.

Furthermore, users are able to use a single margin account across several exchanges because Reya Network integrates margin engine logic directly into its infrastructure. Traders can see capital efficiency advantages of up to 3.5 times thanks to the platform’s margin engine logic, while liquidity providers can enjoy improvements of up to 6 times.

With a throughput of up to thirty thousand transactions per second (TPS) and block durations of only one hundred milliseconds, Reya Network is incredibly fast. “First-in, first-out” (FIFO) eliminates gas fees and addresses issues such as front-running and detrimental Miner Extractable Value (MEV) by processing transactions in their received order. We use a modified version of the Arbitrum Orbit technology stack to achieve this level of efficiency.

Reya Labs will release the Reya Network and Reya Exchange.

Reya Labs is being established by a group of seasoned DeFi professionals who have already launched numerous successful startups. One of their projects is Reya Exchange, a decentralized exchange (DEX) that will provide users with many of the same features found on centralized finance (CeFi) exchanges, such as a fast order book, excellent customer service, and an easy-to-navigate interface. To further enhance market depth, the exchange will also integrate with the Reya Network’s passive liquidity pool.

With a liquidity generation event (LGE) planned for April, Reya Labs plans to infuse liquidity into the Reya Network in order to launch it. As a first exchange on the network, Reya Labs plans to operate a fully working perpetual Reya Exchange following the LGE. If other exchanges want to use Reya Network, they can. As an added bonus, the off-chain order book, stablecoin protocol, and governance mechanisms are all set to be released in 2024.

Read Previous

Franklin Templeton Expands Crypto Offerings

Read Next

Creating a Personal Brand to Boost Your Web3 Career