BBO Exchange, a decentralized derivate exchange, has raised $2.7 million in its pre-seed funding round led by Hashed and Arrington Capital, the company announced today.

In a statement shared with The Block, BBOX said that the funding round also attracted participation from investors, including Consensys, CMS Holdings, Flow Traders, Manifold Trading, Mask Network and Nomura’s Laser Digital.

BBOX explained that its automated market maker model allows liquidity providers to “correlate its price ranges with other assets, emulating the strategies of proactive market makers while maintaining the ease of passive liquidity provision.”

The trading platform said it is working to launch its signal-driven AMM on Linea, a zkEVM Layer 2 Network for scaling Ethereum dApps. BBOX added that the …