Dragonfly-backed on-chain order book Econia launches on Aptos mainnet
Crypto startup Econia Labs rolled out its on-chain order ebook on Aptos APT + mainnet, the corporate stated in a press release.
Econia Labs, which earlier this 12 months raised $6.5 million in a seed spherical led by crypto enterprise fund Dragonfly, launched on the mainnet after an preliminary testnet competitors. In the course of the testnet section greater than 1000 merchants from 68 international locations participated, per the corporate’s web site.
Econia implements an atomic matching engine that leverages Aptos’ sub-second finality, clearing trades the second they’re made, in keeping with the agency.
The staff stated its goal is to cater to merchants eager on avoiding centralized exchanges akin to Binance and Coinbase by providing the same expertise in a non-custodial method utilizing the blockchain.
“By leveraging Aptos’ optimistic concurrency mannequin, Econia is constructed to course of transactions throughout a number of markets in parallel with sub-second finality,” the corporate stated in a weblog put up.
Aptos is a Layer 1 blockchain created by former Meta workers. Aptos Labs, the primary developer of the blockchain, additionally invested in Econia Labs’ seed spherical. Different backers of Econia Labs embody Wintermute and Lightspeed.
