@spicenet has launched Spice Stocks, its first consumer app, bringing trading, leverage, borrowing and yield on tokenized stocks together in one interface. The release marks a move by the Spicenet team from cross-chain infrastructure to a retail-facing product.
Trades on the app are routed through @aeroxyz, which serves as the trading engine. @aave handles loans, @verantaxyz provides leverage, and @Superformxyz powers the product’s earn feature.
How Spice Stocks works
Users can buy tokenized stocks using assets held on other chains and borrow $USDC against eligible holdings. In Spicenet’s October 27 funding announcement, the company said the app was designed to let users buy tokenized equities with assets from other chains, with Aerodrome powering trading and Aave handling borrowing. At the time, the company described the app as still in development.
Tokenized stocks are blockchain-based tokens that track the prices of shares in listed companies. Bringing spot purchases, collateralised borrowing and yield together in one app is intended to spare users from switching between separate protocols to manage a position.
Funding and company background
The launch follows a funding round announced in late October. Spicenet completed a $5M Series A led by dao5, with participation from Babylon and Astrarizon. The round followed a $3M seed co-led by Hack VC and Magnus Capital, bringing total funding to $8M.
According to Pulse 2, the company plans to use the new capital to launch Spice Edge, a cross-venue margin product, and the SPICE token, as well as to provide liquidity for products built on its network. The same report said Spicenet’s Celestia-powered Layer 1 network provides settlement and accounting infrastructure and has processed more than 85,000 mainnet transactions.
Spicenet describes itself as a brokerage network for on-chain finance. Its first major product, Spice Flow, gives applications a single integration for cross-chain transactions. Dealroom reported that Spice Flow’s beta transaction volume has exceeded $160,000.
Spice Stocks is the company’s first product aimed directly at consumers, rather than developers integrating Spicenet’s tools into their own applications.
Sources
TMCnet: Spicenet Raises $5M Series A Led by dao5
ADVFN (Business Wire): Spicenet Raises $5M Series A Led by dao5
Dealroom: Spicenet Series A and Spice Flow volume
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