IntentX, an intent derivatives protocol, has completed a $2.5 million seed round financing, led by Magnus Capital

ChainCatcher news, the intent-based derivatives trading protocol IntentX has announced the completion of a $2.5 million seed round financing, led by Magnus Capital, with participation from Agnostic Fund, Prismatic Capital, MS2 Capital, Coral DeFi, Contango Digital Assets, Castle Capital, and others.

According to the RootData platform, IntentX leverages various cutting-edge technologies, including LayerZero, cross-chain communication protocols, account abstraction, and a groundbreaking request for quote (RFQ) architecture that addresses the key challenges of delivering on-chain derivatives. IntentX has released an Open Beta version, offering trading for over 180 perpetual currency pairs.