Paradigm Backs GTE With $15M Series A to Build the Fastest DEX

Paradigm, a leading crypto venture firm, has invested $15 million in Global Token Exchange (GTE) through a Series A round. GTE is a new decentralized exchange that wants to rival big platforms like Binance and Coinbase. 

The platform can offer the same speed and trading experience as these big names, while keeping the core benefits of decentralization.

Why Paradigm Believes in GTE

GTE’s trading system uses a central limit order book (CLOB). This type of system matches buy and sell orders based on price and time. It works like traditional stock exchanges such as the New York Stock Exchange. 

This differs from automated market makers (AMMs), which are often used in crypto trading. The platform is also built entirely on MegaETH, an Ethereum Virtual Machine-compatible blockchain. This allows it to maintain complete decentralization while offering faster speeds and lower costs. 

In a joint statement, Paradigm partners Charlie Noyes and Caitlin Pintavorn said they believe GTE has the right combination of a strong team and powerful technology. 

Paradigm, known for investing in crypto startups, sees GTE’s potential to compete with centralized exchanges and existing decentralized platforms like PancakeSwap. 

They believe the exchange can give users a faster and more flexible trading experience and expect it to become a major player in decentralized finance (DeFi).

GTE Aims to Improve the Trading Experience

GTE’s co-founders, Matteo Lunghi and Enzo Coglitore, shared that the exchange is focused on retail traders and liquidity providers. Lunghi said the exchange is built for traders who want to buy and sell anytime, from anywhere. 

It aims to avoid the slow speeds and high fees often on today’s decentralized exchanges (DEXs). The co-founder said one of GTE’s goals is to protect liquidity providers from bad trades that reduce their earnings. 

Another goal is to improve how prices are found and updated in real time. Earlier this year, GTE launched a test version of its platform. That testnet attracted about 700,000 users, showing strong early interest in the project.

A Broader Industry Trend 

GTE raised $10 million earlier this year through three funding rounds. These included a $1.5 million pre-seed, a $7 million seed round, and $2.5 million from a community offering on Echo. 

With the new $15 million from Paradigm, GTE is better positioned to mainstream its platform. Fundraising is a common and essential trend in the startup and tech industry. Early-stage companies often raise money through investment rounds to support their growth. 

Reportedly, Donald Trump’s 2024 election victory led to a strong rise in crypto funding, giving the industry a big boost. In March, Haun Ventures revealed it aims to raise $1 billion within the next three months.