Momentum, a decentralized exchange built on the Sui blockchain, has secured a strategic funding round at a $100 million valuation led by OKX Ventures.
Momentum, a ve(3,3) DEX on Sui, has announced the successful completion of a strategic funding round valued at $100 million. The round was led by OKX Ventures and included participation from Coinbase Ventures, Protagonist, DNA Fund, Gate Ventures, MEXC Ventures, and KuCoin Ventures. The newly raised capital is intended to help scale platform operations, increase liquidity depth, and support the development of new product features aimed at both retail and institutional users.
The latest round follows a $10 million funding event in March led by Varys Capital and builds on earlier support from Circle Ventures, Coinbase Ventures, and the Sui Foundation.
Alongside these key backers, Momentum also received support from prominent industry figures and organizations, including Coin Bureau, Monke Ventures, MultiChain Advisors, Crypto Lark, and @theonlynom, a core contributor at Bonk.
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Momentum is a DEX that operates on Sui (SUI), utilizing the Move programming language to provide trading, token vesting, and treasury management services. It officially launched its trading platform in March this year, marking its transition out of stealth mode.
Before its public launch, Momentum spent over two years developing its core technology and establishing partnerships with key ecosystem players such as the Sui Foundation, Bluefin, Cetus Protocol, Agora Finance, AlphaFi, and Ondo Finance. Momentum was also involved in minting the full supply of several stablecoins on Sui, including Agora USD (AUSD), First Digital USD (FDUSD), and USDY.
Unlike conventional DEX models that focus on liquidity providers, Momentum employs a vote-escrowed tokenomics model known as ve(3,3), which incentivizes users to lock up the platform’s governance token, MMT, in exchange for voting power and a share of the protocol’s revenue. This design aligns the interests of liquidity providers, traders, and the protocol itself by redistributing 100% of trading fees and rewards to veMMT holders.
Source: medium.com/carbonocom/
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