Gate.io's Venture Capital Arm, Gate Labs, Announces Investment in DeFi Super App LogX

September 2024 — Gate Labs, the venture capital division of the globally renowned cryptocurrency exchange Gate.io, recently participated in the latest funding round of the decentralized finance (DeFi) superapp LogX. This round raised $4 million, marking a significant milestone in LogX’s journey to expand its leveraged prediction markets and decentralized trading platform.

The Rapid Rise of the Innovative Project LogX

Since its launch in July 2023, LogX has quickly grown into a pioneering project in the DeFi space. The platform’s trading volume has surpassed $20 billion, with over 1 million users. With the recent funding, users can expect seamless access to perpetual markets and leveraged prediction markets on more than 50 blockchains. Additionally, LogX plans to introduce leveraged prediction market features on the TON blockchain by the end of 2024, further expanding its market reach to serve over 100 million potential users.

LogX’s success has attracted participation from several well-known Web3 investment institutions, including Hashed Emergent, Cumberland VC, and Saison Capital. As one of the strategic investors, Gate Labs is supporting LogX in expanding its decentralized trading platform and exploring more innovative financial products.

Building a True DeFi Super App

LogX is a superapp focused on DeFi, offering trading products including perpetual markets and leveraged prediction markets. The platform integrates liquidity from top centralized exchanges such as Binance, Coinbase, and OKX, ensuring users can enjoy leading trading liquidity and flexibility.

Gate Labs stated, “We are highly optimistic about LogX’s growth potential and its innovative capabilities in the DeFi space. Leveraged prediction markets are key to DeFi’s development, and we believe LogX can provide users with more flexible financial tools related to leveraged prediction markets through their products. Gate Labs is excited to participate in this funding round, and we look forward to further collaboration with LogX to advance the development of the DeFi eco.”

About Gate Labs

Founded in 2021, Gate Labs is the venture capital and listing department of Gate.io, dedicated to providing comprehensive support and resources to blockchain entrepreneurs to foster the growth of startups.

About LogX

LogX Network is the ultimate DeFi superapp, offering seamless trading experience of perpetual markets, Leveraged prediction markets, and more. LogX Network is powered by Arbitrum, Hyperlane, and AltLayer.

Author: Global Marketing Selina
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