Decentralized exchange Ambient announced it has raised $6.5 million in a seed funding round led by BlockTower Capital, with participation from Jane Street, Circle, Tensai Capital and others. The funds raised will be used to support team growth and its research and development on decentralized markets.
Ambient, whose predecessor is CrocSwap, went live on the Ethereum mainnet in June. It aims to make DeFi sustainable by gathering deep, diversified and democratic liquidity. The DEX uses a single-contract architecture that drastically reduces gas and taxes while allowing users to seamlessly manage collateral in a single platform.