Spicenet Raises $5 Million Series A Led by dao5

We, October 27: Spicenet, an on-chain brokerage network, announced the completion of a $5 million Series A funding round led by dao5, with participation from Babylon and Astrarizon. Combined with a previously closed $3 million seed round co-led by Hack VC and Magnus Capital, Spicenet’s total funding has reached $8 million.

The new capital will be used to launch Spice Edge, a cross-venue margin product, introduce the SPICE token, and provide initial liquidity across the network. Meanwhile, trading volume for the beta version of Spice Flow, its cross-chain interaction product, has exceeded $160,000. Spice Edge will launch its beta soon, with Derive as its launch partner.