Shipyard Software-backed Clipper raises $4 million

Shipyard Software, the company behind a cloud platform for developers, raised $4 million from Polychain Capital and other investors to build the decentralised exchange Clipper.

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The funding will be used to improve the code of the DEX launched on June 30, and to increase the liquidity of its pools.

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Among other participants in the round were 0x Labs, 1inch, DeFi Alliance, Quantstamp and others.

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A total of $17 million in liquidity for the DEX will come, among others, from Polychain Capital, Nascent, Three Arrows Capital.

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Designed primarily for traders with modest capital, Clipper has been integrated with the aggregators 1inch and 0x.

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According to the developers, most operating decentralised exchanges are currently optimised for trades well above the average order size placed by a typical crypto trader—$10,000.

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Uniswap launched an alpha version of its platform on the mainnet of Optimistic Ethereum (OΞ), which enables fast and cheap transactions. In May the launch of the third version of the protocol for this DEX took place.

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In June, the decentralised derivatives exchange dYdX closed a Series C financing round worth $65 million.

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