Base-based DeFi Protocol BSX Secures $4 Million Investment
CryptoNewsTerminal Staff21 Aug, 2024
Base-based DeFi Protocol BSX Secures $4 Million Investment
Base-based DeFi Protocol BSX Raises $4 Million in Seed Round Coinbase's Layer 2 network, Base, is fostering innovation in the decentralized finance (DeFi) space. Among the emerging protocols on Base is BSX, a derivatives trading platform that has recently secured $4 million in a seed funding round. Led by Blockchain Capital, the investment round also saw participation from prominent firms such as Bankless Ventures, No Limit Holdings, Cadenza Ventures, Breyd Capital, and Maelstrom. This funding will enable BSX to enhance its platform and expand its offerings. Expanding DeFi Capabilities on Base BSX operates a derivatives trading platform on Base, providing traders with access to a range of financial instruments. The platform plans to launch a spot aggregator next month, further expanding its services. Additionally, BSX aims to hold a token generation event (TGE) later this year, which will allow it to distribute its native token to the community. This investment is a testament to the growing interest in DeFi protocols built on Base. As Base continues to gain traction, more innovative projects like BSX are likely to emerge, bringing new possibilities to the DeFi ecosystem.
