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Mangrove - Series A
Overview
Funding Date
February 28, 2023
Financing amount
$7.4M
Valuation
--
Catagory
About Mangrove - Series A
Mangrove raised a $7.4 million Series A round to build out its order book-based decentralized exchange with its "offer-is-code" approach to liquidity provisioning. Cumberland and Greenfield Capital co-led the raise. CMT and gumi Crypto Capital (gCC) also participated in the fundraising effort.
Investors
| Investors | Type | Location | Year Founded | #Portfolio Companies | Email Address | Socials |
|---|---|---|---|---|---|---|
| Corporate | United States of America | -- | 15 | -- | ||
| Fund | Germany | 2018 | 10 | -- | ||
| Fund | United States of America | 1997 | 98 | bitcoin@cmtam.com | ||
| Fund | Japan | 2018 | 50 | info@gumi-cryptos.com |
Founders & Team
Vincent Danos
Company Profile / Project Introduction
Mangrove is an order book-based DEX that allows liquidity providers to post arbitrary smart contracts as offers. This new flexibility enables liquidity providers to post offers that are not fully provisioned. The Mangrove's order book lists promises instead of locked commitments. Liquidity can be shared, borrowed, lent and, at the same time, be displayed in the Mangrove's order book, ready to be sourced when, and only when, an offer is hit. Mangrove is a 100% trustless and on-chain DEX, but a very special one, as it is not based on pools like Uniswap-like DEXs. LPs do not have to lock in their liquidity.