We’re thrilled to announce that IntentX has closed its $2.5M seed round, led by Magnus Capital, with participation from a veteran group of digital asset investors, including Agnostic Fund, Prismatic Capital, MS2 Capital, Coral DeFi, Contango Digital Assets, Castle Capital, and a number of notable angel investors and funds.
This investment from industry leaders will accelerate IntentX’s mission to disrupt the Perpetual DEX market with innovative architecture that unlocks deep liquidity on-chain.
“Investing in IntentX goes beyond seizing an opportunity; it means endorsing a revolutionary project that is spearheading intent-based decentralized derivatives trading. IntentX harnesses cutting-edge technology, unwavering commitment, and is poised to revolutionize the perpetuals market. At Magnus Capital, we take pride in leading this round because we acknowledge the unmatched quality and dedication of the IntentX team, determined to tackle the liquidity issues that have plagued on-chain derivatives thus far. We firmly believe that IntentX will act as the catalyst bridging the divide between centralized exchanges and the decentralized finance ecosystem.”
-JJ, Co-Founder, Magnus Capital
Seed Partners
The seed round includes not just funding partners, but also strategic partnership initiatives with SYMMIO, Blocmates, and The Rollup. We’re also proud to collaborate with Quantstamp for audit services, ensuring the highest security standards for our products.
We look forward to sharing more details of these partnerships in the near future!
About IntentX
IntentX is a first of its kind omnichain, OTC derivatives market, addressing key inefficiencies in decentralized derivatives.
The total crypto derivatives market sees approximately $3 trillion in monthly trade volume, constituting up to 80% of total crypto trade volumes. Despite this, the bulk of these trades (99%) still occur on centralized exchanges (CEXs) due to their liquidity and user experience advantages. IntentX aims to address this problem.
Our platform is uniquely positioned to bridge the liquidity gap between decentralized (DEX) and centralized exchanges (CEX), leveraging a distinctive liquidity aggregation strategy. This approach allows for efficient execution of large trades with minimal price impact.
The IntentX Open Beta, live now, provides low fee trading for over 180 perpetual pairs with up to 60x leverage.
“The Contango team is excited to back teams like IntentX that are building where the puck is going to be, not where it is now. IntentX’s innovative intent-based trading mechanism, promises significant advancements in capital efficiency for LPs that will provide a seamless trading experience for their users. Addressing critical challenges in the current decentralized exchange ecosystem, IntentX demonstrates a commitment to transformative solutions that resonate with our vision of bringing all traders on-chain.”
-Josh, Managing Partner, Contango Digital Assets
Key Features and Advantages:
Capital Efficiency and Deep Liquidity: Our Intent-based trading platform enables vastly more efficient use of liquidity. Market makers (solvers) can focus their capital on fulfilling specific trade requests (intents) via just in time (JIT) liquidity, leading to deeper and more concentrated liquidity compared to conventional orderbook or passive AMM.
Low Fees and Wide Pair Availability: By reducing capital requirements and effectively “bridging” liquidity on-chain through market makers, IntentX is able to offer the lowest fees and widest pair availability in the DEX market.
Omnichain Deployment: Because of the low throughput requirement and JIT liquidity features of intent-based trading, IntentX is unconstrained in regards to multi-chain deployment.
User Experience and Security: IntentX focuses on enhancing user experience, a critical factor for wider adoption, by simplifying the trading process and integrating features like one-click trading, account abstraction and efficient fiat on-ramps.
Looking Ahead
As we move forward, IntentX is positioned to make significant strides in the decentralized derivatives space. With this funding, we aim to accelerate our product development, enhance our market presence, and contribute innovatively to the evolving landscape of digital assets and blockchain technology.
Official Links:
- Website: https://intentx.io/
- Twitter: https://twitter.com/IntentX_
- Discord: https://discord.gg/IntentX
