Sphinx Protocol Raises $2M Pre-Seed to Launch Institutional Commodity Derivatives Exchange
Summary
Sphinx Protocol raised $2 million in pre-seed funding to build an institutional-grade commodity derivatives exchange. The company is developing its GCX Exchange on a permissioned Layer 1 blockchain to support 24/7 trading in futures, options, and perpetual swaps for energy commodities. It claims major improvements in settlement speed, capital efficiency, fees, and back-office automation versus traditional exchanges. The round included Eckhardt Capital and several Web3 and finance investors, and the new capital will support mainnet launch, regulatory engagement, and institutional onboarding.
Funding
Amount
$2.0M
Total raised
Date
June 24, 2025
Announcement date
Investors
GS Futures
Lead investors
Company
https://sphx.io
Funded company
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