Radar Relay recently announced that it had come to the end of its seed round, which will provide it with growth capital. These funds would be used to help it expand its platform, support automated trading, and assist in building a dedicated integration team. Since it launched the first layer, based on 0x protocol in August, it has been able to onboard sixty ERC20 tokens. Besides that, it has been able to hire 15 experts, and has attracted tens of thousands of users.
It Shows Investors Have Faith
By helping to complete the seed round, it shows that investors share the same beliefs as them. This belief is that Radar Relay does not believe in predicting the future. Instead, it believes in creating it. Radar Relay said they were quite happy with these partners. In fact, they were working with them to scale operations at the company.
Spence Bogart, a Partner at Blockchain Capital, had a few positive comments about Radar Relay. He said there was a great team working behind the scenes. He also added that he was happy to be working with such a capable team as they continue towards their goal of building the next generation of global exchanges.
Who Led the Seed Round?
Some of the top cryptocurrency and blockchain investors like Blockchain Capital and other participants such as Collaborative Fund, Kindred Ventures, Kokopelli Capital, Reciprocal Ventures, V1 VC, Batshit Crazy Ventures, Digital Currency Group, and numerous private angel investors led the seed round.
All About Radar Relay
This is a relayer, which utilizes 0x protocol to host an off-chain order book containing individual signed orders. A Relayer is the next-gen of the exchange that is peer-to-peer and decentralized. Relayers work much like exchanges but do not hold any assets; neither do they execute any trades. When a user finds and completes an order, it is automatically settled on Ethereum via 0x smart contracts.
The off chain is a term used to mean that the bulk of transaction data is not stored on the blockchain. This means there is less transaction bloating, which also helps to make the process quite efficient.
Radar Relay Is Not an Exchange
Radar Relay is not your normal exchange. The reason is that no funds are held. Since it does not hold any assets, it is quite secure. Besides that, all trades occur via Ox smart contracts. This means that there is minimal to no risk of tokens being lost. The Ox team has had multiple audits conducted to check for security loopholes. Thus far, they have not found any.
Radar Relay Tokens
There are no tokens on Radar Relay. It wants to provide a publicly accessible product without the need for a token. Since it is built on Ox, there is no technical use case for tokens.
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