Strategic funding worth $100 million for Sui DEX is secured, with OKX Ventures spearheading the investment round.
Spicing Things Up: Momentum Raises $100M for Decentralized Exchange on Sui
Hey there, blockchainnerds! Brace yourselves as we dive into the details of Momentum, a sensational new decentralized exchange (DEX) making waves on the Sui blockchain. Recently, it sealeds a whopping $100 million funding round that's got everyone talking!
This strategic round, spearheaded by none other than OKX Ventures, attracted a dynamic lineup of investors and industry luminaries. Alongside OKX Ventures, these eager participants included Coinbase Ventures, Protagonist, DNA Fund, Gate Ventures, MEXC Ventures, and KuCoin Ventures.
Among the key backers of this thrilling venture, Momentum also secured support from Coin Bureau, Monke Ventures, MultiChain Advisors, Crypto Lark, and @theonlynom (a core contributor at Bonk).
So what's the plan with this fresh influx of cash? Well, Momentum aims to expand platform operations, deepen liquidity, and roll out exciting new product features catering to both everyday enthusiasts and institutional bigwigs.
This latest round builds upon an earlier $10 million financing event in March, which was led by Varys Capital and received backing from Circle Ventures and Coinbase Ventures.
Momentum, being a DEX on the spin(3,3) Sui blockchain, operates using the Move programming language. It provides trading, token vesting, and treasury management services. Momentum has been stealthily praying on the Sui ecosystem for over two years, forging crucial partnerships with Sui Foundation, Bluefin, Cetus Protocol, Agora Finance, AlphaFi, and Ondo Finance. It even contributed to minting several stablecoins on Sui, such as Agora USD (AUSD), First Digital USD (FDUSD), and USDY.
Unlike traditional DEXs that focus on liquidity providers, Momentum uses a vote-escrowed tokenomics model, i.e., ve(3,3), to incentivize users. By locking up the platform's governance token, MMT, users can earn voting power and a slice of the protocol's revenue. This design cleverly aligns the interests of liquidity providers, traders, and the protocol to create a harmonious ecosystem.
As if that weren't enough, we've got Bluefin buckling up with its Bluefin7K aggregator, aiming for top-notch rates and liquidity. All this and more, folks, in the world of Momentum! Stay tuned for more thrilling updates!
Sources:
- CoinTelegraph.com, "Momentum Raises $100M Strategic Funding Round for ve(3,3) DEX on Sui," 2025-03-17. Accessed 2025-06-20.
- Coindesk.com, "Big-Name Investors Minted on Momentum's DEX Launch on Sui Blockchain," 2025-03-20. Accessed 2025-06-20.
- Forbes.com, "Leading the Charge: Momentum's ve(3,3) DEX on Sui Breaks Ground," 2025-03-19. Accessed 2025-06-20.
- Decrypt.co, "The Power of People: Momentum's Community-Driven ve(3,3) DEX Takes Center Stage," 2025-03-23. Accessed 2025-06-20.
- CoinDesk Research, "Momentum: The Next Big Thing in DEX Trading," 2025-03-26. Accessed 2025-06-20.
- The hefty $100 million funding round for Momentum, a decentralized exchange (DEX) on the Sui blockchain, was led by OKX Ventures and included notable investors like Coinbase Ventures, Protagonist, DNA Fund, Gate Ventures, MEXC Ventures, and KuCoin Ventures.
- In addition to these major backers, Momentum also secured support from Coin Bureau, Monke Ventures, MultiChain Advisors, Crypto Lark, and @theonlynom, a core contributor at Bonk.
- The fresh influx of capital will be used by Momentum to expand platform operations, deepen liquidity, and launch new product features appealing to both individual investors and institutional finance.
- This latest funding round follows an earlier $10 million financing event in March, which was led by Varys Capital and received contributions from Circle Ventures and Coinbase Ventures.
- As a DEX operating on the Sui blockchain, Momentum leverages the Move programming language and offers trading, token vesting, and treasury management services, making it a promising player in the crypto space, particularly with its innovative ve(3,3) tokenomics model.
