🧵October Edition

A few words from our promising and inspiring leader.

• Launching Mainnet

• Platform Updates

• DefiLlama

• Series A Funding

• TVL milestones

• Employee Focus

• Work Hard, Play Harder

• Seasoned Trader Series

• Trading Leaderboard

• $SALT score

• Strategic Partnerships in the ZK Ecosystem

• Incentivizing our users in the best possible way

• Becoming the largest decentralized liquidity infrastructure

• Launching the world’s first MPC:AA wallet

• Brinerds NFT loading…

Possibly the biggest goal to come to fruition for us was the launch of the BETA mainnet in April 2023. The team worked tirelessly to make this happen, and we celebrated with a grand giveaway. The platform saw exponential trading engagement after the mainnet launch.

In the months after the launch, the dev team made constant improvements and enhancements to the platform, including:

↔️ Adding new trading pairs

We expanded our wallet repertoire to include USDT/USDC, MATIC/USDC and ARB/USDC trading pairs, and more will follow soon.

💸 Launching fast withdrawals

We launched fast withdrawals so users don’t have to wait hours to receive assets anymore (this feature is currently enabled for USDC only).

🔻 Introducing industry lowest trading fee

To give our users the best experience possible, we have reduced our trading fee to the industry lowest rate of 0.02%.

⛓️ Going Multichain

Brine is now accessible on Polygon and Starknet, with more networks lined up in the next few weeks. Don’t forget that you can already access Brine through any network, thanks to Layerswap.

We partnered with Solus Finance, a Shardeum-based futures trading platform focused on making trading fun for Gen-Z, which will open doors to a whole new generation of users.

More than 25 institutions, including some of the largest exchanges in the world, now use Brine to trade their assets. You may suspect we used a cheat code, but they were in fact drawn in by our superior DEX-terity.

Brine was listed on DefiLlama in August, and quickly rose to the Top 5 by volume. This was a big leap because it increased visibility for the brand, and introduced us to new users.

Recently, Brine raised $16.5M in a funding round led by Pantera Capital, with contributions from Elevation Capital, Starkware Ltd, Spartan Group, Goodwater Capital, Upsparks Ventures, Protofund Ventures and angel investors.

Within two weeks of the mainnet launch, the platform saw a whopping $50M in trading volume, which quickly became $600M in two months. And we continue to climb constantly (at the time of publishing, total trading volume is nearly a billion dollars).

We launched an AMA series hosted by our star trader, Aryan, which provides an insightful glimpse into the seemingly complex world of crypto trading. Using simple analogies and relatable examples, Aryan breaks down the basics of trading, with each episode delving deeper into the topic.

Our very first trading sprint went live in August and we haven’t looked back since. Each sprint saw a new set of traders rise to the top of the leaderboard and win big.

$SALT score came out in September and we saw great engagement through the SALT drop which saw the top ten users win cool rewards including exclusive NFTs and rewards from a substantial prize pool. Simply put, it is Brine’s way of rewarding users, specifically those who are active on Brine and socials.

These partnerships will allow us to leverage the power of ZK, ultimately enhancing the capabilities and offerings of our platform. By aligning ourselves with key players in the ecosystem, we aim to accelerate innovation, improve user experiences, and unlock new opportunities for growth.

Our top priority is to enhance the trading volume of our DEX, which currently stands at a 7-day average Daily Trading Volume of $8-10M, by 10x. We plan to achieve this by strategically adding more institution partners, broadening the range of trading pairs available, and extending support for additional ecosystems. This concerted effort will enable us to attract a larger user base and solidify our position as the best on-chain order execution layer.

Brine already has some of the largest CEXs, hedge funds, HNWIs and high frequency trading firms using our platform to trade. We are confident that by converting the institutions in our existing waitlist, we will be able to become the largest and the first decentralised liquidity infrastructure in the world.

We are thrilled to introduce SafeGate, an innovative wallet that sets new standards in security within the industry. By leveraging hierarchical threshold signatures and homomorphic encryption, SafeGate ensures unparalleled security while offering scalability. Our goal is to grant users access to 100+ blockchains on a single app, where they can confidently engage in DeFi activities without compromising on safety.

We’re stepping into the NFT market with our own collection: Brinerd NFTs are coming soon, and we can’t wait to share them with you. Stay tuned for updates!