Reya Labs Raises $10M in Funding to Enhance Development of Trading-Optimized Layer 2 Reya Network
In Brief
Reya Labs raised $10 million in a funding to support the ongoing development of its trading-optimized Layer 2 modular platform Reya Network.
The company behind the Reya Network Layer 2 blockchain and Reya exchange, Reya Labs, raised $10 million in a funding round led by Framework Ventures, Coinbase Ventures, Wintermute, Fabric Ventures, Brevan Howard, Amber Group, and Robot Ventures. This funding will support the ongoing development of its trading-optimized modular platform.
Reya Network’s design aims to offer deep liquidity, efficient capital utilization, and high performance, serving the needs of decentralized finance (DeFi) traders and liquidity providers.
The capital staked in Reya Network supports trading by facilitating a passive liquidity pool mechanism. This mechanism fosters shared liquidity among all exchanges within the Reya ecosystem, leading to improved market depth, lowered barriers to market entry, and enhanced trading experiences for users.
Moreover, Reya Network incorporates margin engine logic directly into its infrastructure, enabling users to utilize a single margin account across multiple exchanges. The platform’s margin engine logic delivers traders with up to 3.5 times enhancements in capital efficiency, while liquidity providers benefit from up to 6 times improvements.
Additionally, Reya Network has remarkable speed, featuring block times of 100 milliseconds and a throughput of up to 30,000 transactions per second (TPS). Transactions are processed on a ‘first-in-first-out’ (FIFO) basis, eliminating gas fees and addressing concerns such as front-running and harmful Miner Extractable Value (MEV). This efficiency is attained through the implementation of a customized version of the Arbitrum Orbit tech stack.
Reya Labs to Launch Reya Network and Reya Exchange
Founded and led by the team of DeFi veterans with a track record of launching multiple successful startups in the past, Reya Labs also is developing Reya Exchange–a decentralized exchange (DEX) that will offer users an array of features akin to those available on centralized finance (CeFi) exchanges, including high-performance order book, robust customer service, and user-friendly interface. Additionally, the exchange will integrate with the passive liquidity pool within the Reya Network, augmenting market depth.
Reya Labs intends to launch the Reya Network by injecting liquidity, commencing with a Liquidity Generation Event (LGE) slated for April. Following the LGE, Reya Labs aims to launch a fully operational perpetual Reya Exchange, as the first exchange on the network. Reya Network will be accessible to other exchanges. Moreover, throughout 2024, several anticipated features are scheduled for deployment, such as the off-chain order book, stablecoin protocol, and governance mechanisms.
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Alisa is a reporter for the Metaverse Post. She focuses on investments, AI, metaverse, and everything related to Web3. Alisa has a degree in Business of Art and expertise in Art & Tech. She has developed her passion for journalism through writing for VCs, notable crypto projects, and scientific writing. You can contact her at alisa@mpost.io
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Alisa is a reporter for the Metaverse Post. She focuses on investments, AI, metaverse, and everything related to Web3. Alisa has a degree in Business of Art and expertise in Art & Tech. She has developed her passion for journalism through writing for VCs, notable crypto projects, and scientific writing. You can contact her at alisa@mpost.io
