Dragonfly Capital Funds $3.4 Million for ZK Dark Pool Startup Renegade
Key Points:Renegade raised $3.4 million in seed funding from Dragonfly.
It eliminates all counterparty risk by creating an end-to-end encrypted currency, a dark pool.
The startup is working towards a public testnet over the next few months.
Dragonfly Capital led a $3.4 million seed funding round. Naval Ravikant, who was the CEO of AngelList, is now the startup Renegade. Renegade is developing a new kind of decentralized exchange. In direct contrast to this, DeFi makes all trading information publicly accessible.Renegade’s straightforward goal is to let knowledgeable traders trade at better prices without disclosing their intentions to the larger market.With the use of zero-knowledge proofs and encryption, Renegade eliminates counterparty risk. On-chain guarantees custody. Users don’t need to trust anyone. Validators and sequencers can reduce DeFi’s MEV because they only view ZKPs for valid transactions. There are no more transaction reordering mischief or sandwich attacks. The majority of ZKP applications have been for succinctness. The startup claims that it is aiming to provide a trustless trading platform and avoid the risks associated with decentralized exchanges. It will therefore immediately cross-order flow anonymously at middle pricing. Renegade will then launch on a public testnet in quarter two of 2023. We encourage you to do your own research before investing.Join us to keep track of news: https://linktr.ee/coincuHaroldCoincu NewsTags: Dragonfly CapitalMPCRenegadezero-knowledge proofsZK Dark Pool