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4h ago

Grvt Raises $19 Million in ZKsync-Led Round for Privacy-First DEX Challenging Hyperliquid

The investment backs a zero-knowledge trading model that keeps large positions private to deter “position hunting.”

Grvt raises $19m to bring privacy and scale to on chain finance
Grvt
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Overview

  • ZKsync contributed $14 million of the $19 million Series A, positioning Grvt as a contender in decentralized perpetual futures.
  • Grvt uses a zero-knowledge validium design to hide order data, positions and liquidation levels, aiming to prevent front-running and liquidation sniping.
  • The exchange pursues a yield-first strategy with fixed-yield products targeting 10% returns, tokenized vaults managed by Ampersan, and incentives such as negative maker fees and planned token airdrops.
  • Institutional positioning includes Bermuda licenses plus integrations with LTP and Coin Routes, with Further Ventures joining the round and ZKsync touting ZK trading as crypto’s “HTTPS moment.”
  • Grvt enters a market led by Hyperliquid, which holds roughly 70% share and nearly $400 billion in monthly volume and has begun rolling out vault products and a native stablecoin.