PANews reported on August 21 that according to The Block, the decentralized financial derivatives protocol BSX successfully raised $6.2 million before launching its tokens, of which $4 million in seed round financing was led by Blockchain Capital, and another $2.2 million in pre-seed round financing was raised a year ago. Investors in the two rounds of financing include Bankless Ventures, No Limit Holdings, Cadenza Ventures, Breed VC and Arthur Hayes' family office Maelstrom. Its angel investors include Coinbase listing director Zach Segal, Delphi founder Tommy Shaughnessy and CoinFund investor Isaiah Washington. BSX core contributor Henry N. said the structure of these rounds of financing is a simple future equity (SAFE) issuance agreement, which provides investors with token warrants. He declined to comment on the valuation.
BSX is a decentralized derivatives trading platform based on Ethereum Layer 2 network Base, which has achieved more than $4 billion in trading volume and $1 million in revenue in four months. BSX plans to launch Layer 3 network in the first quarter of 2025 to optimize the order book, and plans to release BSX tokens by the end of the year for on-chain governance and value transfer.