Crypto exchange developer Shipyard Software has raised $21 million to build Clipper, a decentralized exchange that is designed for different types of traders.
According to the firm, Polychain Capital led a $4 million equity round with participation from 0x Labs, 1inch, DeFi Alliance, and Quantstamp, among others.
An additional $17 million was pledged by liquidity providers for Clipper, with participation from Polychain, Nascent, Three Arrows Capital, and more. The exchange was recently fully integrated with decentralized aggregators 1inch and 0x. The firm says it will use its new funds to further develop Clipper and grow the exchange’s liquidity pool.
„We believe that Shipyard is beginning with a genuinely innovative approach by targeting small-to-medium sized traders, not whales,” said Polychain Capital founder and CEO Olaf Carlson-Wee. „Shipyard’s tech will fill a desperately needed void of DEXs that cater to retail traders.”
According to its website, Shipyard Software builds
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