Leverage synthetic yield exchange RateX completes seed round financing, with participation from GSR and SNZ Holdings.

ChainCatcher news, the leveraged synthetic yield trading platform RateX has announced the completion of its seed funding round, with participation from GSR, SNZ Holdings, Presto Labs, Animoca Ventures, Initial Ventures, G Ventures, KuCoin Ventures, Summer Ventures, and LeadBlock Bitpanda Ventures.

According to the Web3 asset data platform RootData, the RateX protocol is a decentralized exchange (DEX) built on Solana. RateX offers leveraged yield trading, similar to perpetual futures contracts, allowing users to gain exposure to the underlying assets with positions significantly larger than their deposited margin. To fully unlock the potential of yield trading, RateX provides three closely integrated features: leveraged yield trading, yield, and synthetic assets.