Kodiak Finance raised $2M to launch the first community-native DEX on Berachain, focusing on user governance - IcoHolder.

Kodiak Finance, a decentralized exchange (DEX) aiming to establish itself as the "community-native DEX of Berachain," has successfully concluded a $2 million seed financing round. The team behind Kodiak Finance expressed enthusiasm about utilizing the funding to accelerate the platform's growth and introduce innovative trading products native to Berachain.

Empowering Berachain with Kodiak Finance

In a statement, Kodiak Finance highlighted the significance of the funding, emphasizing that it would play a pivotal role in scaling the DEX rapidly. The team's commitment is directed towards delivering exceptional trading products while fostering the growth of the Berachain ecosystem.

The Berachain-based DEX shared a schematic in a January 15 blog post, outlining its vision and technological approach. Kodiak Finance aims to position itself as a key player in the decentralized finance (DeFi) landscape, with a focus on community-driven initiatives.

Luganodes Expands Staking Services to Bitcoin Layer-2 Network, Stacks

In a separate development, Luganodes, a provider of institutional-grade staking services, announced its integration with Stacks, a Bitcoin layer-2 network. The move enables institutions to earn native BTC rewards while actively supporting the Stacks network. Luganodes, already recognized among the top validators on various networks like Polygon, Polkadot, Sui, and Tron, solidifies its commitment by becoming a Signer on the upcoming Nakamoto upgrade for Stacks.

This integration is expected to offer institutions faster and more cost-effective transactions while maintaining the security synonymous with the Bitcoin network.

Pyth Unveils 'Pyth Entropy' for Enhanced On-Chain Random Number Generation

Blockchain oracle project Pyth introduced "Pyth Entropy," a groundbreaking feature designed to enhance on-chain random number generation within Web3 applications such as prediction markets and GameFi. This marks a significant milestone as Pyth Entropy prepares for its mainnet deployment, ushering in a new era for decentralized applications.

Additionally, Pyth has launched its Price Feeds on LightLink, an Ethereum layer-2 blockchain. This deployment empowers dApps and enterprises within the LightLink ecosystem to facilitate instant, gasless transactions. Over 400 real-time price feeds across major asset classes are now accessible to smart contract developers, enhancing the capabilities of DeFi applications.

Cube.Exchange Raises $12 Million in Series A Funding Round

Cube.Exchange, a digital asset trading platform set to launch soon, announced a successful Series A fundraise, securing an impressive $12 million. Led by 6th Man Ventures, the investment round attracted notable participants like Asymmetric, ParaFi Digital, and Foundation Capital, among others.

The funds raised will be strategically allocated to expand various facets of Cube.Exchange, including engineering, customer service, operations, legal and compliance, business development, and license acquisition.

This Series A round follows Cube.Exchange's earlier achievement of a $9 million seed round in October, indicating growing interest and support for the platform's upcoming endeavors.