Decentralized platform for trading perpetual futures, Hubble Exchange, raises $3.3M in strategic partnership led by Framework Ventures

Hubble Exchange, a decentralized platform for trading perpetual futures on Avalanche, has raised $3.3 million in a strategic partnership led by Framework Ventures, an investment advisor with extensive decentralized finance (DeFi) experience. Hubble also received support from Lemniscap, Blizzard – the Avalanche Ecosystem Fund, GSR, Trader Joe, and Finlink Capital, as well as angels like Aave founder Stani Kulechov, Nick Chong, Wangarian, Farid Rached, Phillip Liu Jr., and Ava Labs’ Joe Ferrara, Adam Cader from ParaFi Capital, Samneet Chepal from LedgerPrime, Mark Stanwyck from Avalaunch and Sergei Chan. Leveraging Avalanche’s highly scalable infrastructure with Hubble’s multi-collateral and cross-margin design, Hubble Exchange offers a truly streamlined and decentralized alternative for trading perpetual futures.

Deployed exclusively on Avalanche, the fastest blockchain by time-to-finality (TTF) with gas fees a fraction of those on Ethereum’s mainnet, Hubble Exchange enables near-instantaneous transaction speeds and gas fees as low as $2, to deliver the highly scalable foundation needed to support a successful perpetual futures market on blockchain. Hubble Exchange allows users to list multiple assets as collateral such as: B. Bitcoin, Ethereum, USDC and soon Avalanche Ecosystem assets, allowing traders to maintain full exposure to multiple coins and optimize profits across a more diverse portfolio.

“Existing decentralized derivatives protocols have captured only a small fraction of overall derivatives trading volume compared to centralized platforms like Binance and FTX,” said Atvanguard, a core contributor at Hubble Exchange. “With the rise of scalable layer-ones and layer-twos, we recognized a new opportunity to break into the derivatives market and are now positioned to be the premier decentralized exchange for perpetual futures on Avalanche.”

Hubble uses the CurveCrypto Invariant in its vAMM (Virtual Automated Market Maker), which concentrates liquidity around the current “internal oracle” price and automatically updates it using a repegging algorithm. This makes the vAMM “smart” enough to concentrate liquidity itself around the current price, creating a capital efficient system for liquidity providers who no longer need to manually select a range in which to provide liquidity.

Uniquely, Hubble Exchange will also be the first perpetual futures platform, allowing traders to tokenize their most profitable perpetual futures positions so they can be used as collateral for other DeFi protocols. In potential credit protocols, this composability may open a new use case; Borrowing against your profitable perpetual futures positions.

“While DeFi protocols have managed to capture a significant portion of trading volume across a variety of sectors such as cash and credit markets, they have not yet disrupted the derivatives market, particularly the perpetual futures markets,” said Michael Anderson, co-founder of framework ventures. “We are very excited to support the Hubble team in becoming the leading decentralized disruptor in the derivatives and perpetual futures market.”

Using a community created Hubble Space Cats (NFT) collection Hubble Exchange DAO-fied. The NFTs were retroactively airdropped to early testers of the protocol and are used to vote on key governance proposals, such as: B. the strategic increase that achieved a turnout of 663 DAO members. “We want to be part of an antifragility protocol and believe that decentralization is a prerequisite for antifragility,” said Kepler, one of several core Hubble Exchange contributors.

Proceeds from the procurement will be used to scale the engineering team to further develop the protocol ahead of mainnet launch in April. A secondary DAO within the ecosystem was also initiated and funded, known as the Hubbleverse DAO. Some projects that fall under this include Hubble’s Metaverse in VR Chat, NFTs, physical artifacts like Hubble Tea, Hubble Robes, and other moonshot experiments for the community.

Hubble Exchange launched on the testnet in October with over 2,400 unique participants and is currently running a trading contest with over $50,000 in rewards. Getting started is available on the protocol’s Discord server. The team plans to launch on the Avalanche mainnet soon.

Via Hubble Exchange
Hubble Exchange is a decentralized platform for trading perpetual futures on Avalanche. Leveraging Avalanche’s low fee and highly scalable infrastructure, Hubble aims to be the premier perpetual futures trading protocol with its multi-collateral, multi-margin design
To learn more, visit https://hubble.exchange/.

About Framework Ventures
Framework is a team of technologists, researchers and investors who buy assets, build for them and participate in open crypto networks. At its core, Framework is a technology company that develops products and services to support the open blockchain networks in which it invests. Through its registered investment advisor, Framework Ventures Management LLC (“Framework Ventures”), the Company has backed dozens of notable companies in the decentralized finance and Web3 spaces.
To learn more, visit: framework.ventures.