<![CDATA[<figure class="image"><img src="https://cimg.co/news/126586/334283/defi-protocol-elixir.jpg" alt="" srcset="https://cimg.co/news/126586/334283/responsive-images/defi-protocol-elixir___media_library_original_1371_571.jpg 1371w, https://cimg.co/news/126586/334283/responsive-images/defi-protocol-elixir___media_library_original_1200_500.jpg 1200w, https://cimg.co/news/126586/334283/responsive-images/defi-protocol-elixir___media_library_original_900_375.jpg 900w, https://cimg.co/news/126586/334283/responsive-images/defi-protocol-elixir___media_library_original_720_300.jpg 720w, https://cimg.co/news/126586/334283/responsive-images/defi-protocol-elixir___media_library_original_600_250.jpg 600w, https://cimg.co/news/126586/334283/responsive-images/defi-protocol-elixir___media_library_original_300_125.jpg 300w" sizes="100vw" width="1371" class="content-img"><figcaption>Source: Elixir</figcaption></figure>DeFi platform Elixir has successfully raised $7.5 million in a Series A investment round led by Hack Venture Capital.&nbsp;This substantial investment has boosted the protocol's valuation to an impressive $100 million.<figure class="media"><oembed url="https://twitter.com/ElixirProtocol/status/1714649796600869191?s=20"></oembed></figure>The Series A round also welcomed participation from key investors such as AngelList Ventures, NGC Ventures, Bloccelerate, Hudson River Trading, Genesis Trading, and angels from Ledger Prime.&nbsp;The new capital will be used to expand the protocol&rsquo;s team and accelerate the development of infrastructures, including the development order book liquidity on exchanges.&nbsp;Earlier this year, Elixir <a href="https://news.fintech.io/post/102i5of/elixir-raises-2-1m-in-seed-funding">raised</a> $2.1M in a seed funding round, which was spearheaded by Falcon X, Chapter One, and featured the involvement of Arthur Hayes, co-founder of BitMex.<h2 id="insights-on-the-elixir-model-and-growth-trajectory-so-far">Insights on the Elixir Model and Growth Trajectory So Far</h2>Elixir introduced the state-of-the-art liquidity provisioning and a holistic approach to transforming funds through decentralized and algorithmic market-making protocols.&nbsp;The protocol's trustless <a href="https://docs.elixir.finance/algorithmic-market-making">algorithmic model</a> allows widespread participation in supplying liquidity for exchange pairs on decentralized and centralized platforms.&nbsp;By creating incentives for projects and providing full transparency in market-making, Elixir enables projects to have the edge in market-making services for their exchange pairs while significantly reducing costs.The platform&rsquo;s transparency means protocols can monitor how their liquidity is being provisioned. This benefits all participants and fosters high trust and accountability not often seen in traditional market-making practices.&nbsp;The decentralized model of Elixir offers versatile utilities not only to decentralized finance (DeFi) projects but also to exchanges and protocols to enhance liquidity for their trading books.&nbsp;&nbsp;Besides democratizing the market-making landscape, the protocol strives to share the proceeds traditionally generated from money market platforms with the token community.&nbsp;By incentivizing members, individuals are motivated to participate in liquidity provisioning and earn financial perks through token rewards.&nbsp;This novel approach creates an additional demand for tokens while improving the ecosystem&rsquo;s growth and sustainability.&nbsp;Elixir is on a vertical growth trajectory as it continues to develop its cutting-edge blockchain solution and move closer to realizing more goals.&nbsp;The new raise comes at a time when the decentralized market is facing stringent scrutiny following the collapse of <a href="https://cryptonews.com/news/ftx-scandal-what-latest-testimony-means-for-cryptocurrency-industry.htm">FTX </a>and the prominent Alameda research.With Elixir thriving past industry setbacks, experts believe more milestones could be reached.&nbsp;The startup has also revealed plans to launch a delegated proof-of-stake mechanism on the mainnet in the coming weeks, a new trajectory that could drive its growth to new heights.&nbsp;
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DeFi Protocol Elixir Raises $7.5M in Series A Round Led By Hack VC

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