in Cryptocurrency

DeFi Project Backed by Polychain and DragonFly Capital Shuts Down

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Decentralized finance project Paradigm Labs — backed by veteran crypto investors Polychain Capital, Dragonfly Capital, and Chapter One Ventures — is shutting down.

In an announcement yesterday, March 10, CEO and co-founder Liam Kovatch said the closure was due to Paradigm’s “failure to carve a viable niche in the DEX [decentralized exchange] marketplace” and to factors both “within and outside” of the team’s control.

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