According to Techub News, the leveraged interest rate trading protocol RateX has completed its seed round of financing. Investors include GSR, SNZ Holdings, Presto Labs, Animoca Ventures, Initial Ventures, G Ventures, KuCoin Ventures, Summer Ventures and LeadBlock Bitpanda Ventures. The amount of financing was not disclosed.

RateX won first prize in the Solana Renaissance MCM Hackathon in May of this year.

RateX is a leveraged interest rate trading DEX built on Solana. On RateX, users can go long or short synthetic yield tokens (YT) with up to 10x leverage, thereby benefiting from changes in yield in a capital-efficient manner. In addition to leveraged yield trading, RateX also provides integrated features such as fixed income investment and synthetic credit trading to meet the needs of different users.