GammaX Raises $4 Million for its Hybrid Crypto Exchange

GammaX announced that it has received $4 million in investments directed toward its upcoming crypto derivatives exchange. StarkWare, Cobo, and Genesis Trading are listed among the investors.

According to GammaX’s representative, the company is looking to create the most advanced crypto exchange available to traders. For this purpose, GammaX will be a hybrid exchange, built on the StarkEx layer-2 solution, featuring aspects of both centralized and decentralized exchanges.

Namely, the platform’s order book will be kept outside of the blockchain, while operations with users’ funds are conducted through smart contracts. However, GammaX might transform into a fully decentralized exchange in the future, once the blockchain infrastructure is sufficiently mature.

The current plan is to launch testnet versions, for beta testing purposes, in the next few weeks. If everything goes according to plan, GammaX should launch on mainnet in fall 2022.