DEX Race Heats Up: Paradigm Supports this Startup with $15M Funding

A new DEX called GTE has received funding support to beat the existing CEXs and DEXs using its CLOB model. Can it overcome the popular AMMs?

Published by

Sneha Agrawal

June 25, 2025

DEX Race Heats Up: Paradigm Supports this Startup with $15M Funding

New DEX:- The DEX market is already under fierce competition with the total DEX volume in the last 24 hrs surpassing $13 Billion. The leading crypto exchange Bybit has also announced its entry into the DEX market with Byreal. Amidst this, a new DEX called GTE promises to beat the existing CEXs and DEXs with its CLOB model.

This comes after in a big crypto funding update, the leading VC firm Paradigm lead the $15 million Series A funding round for this new DEX, GTE.

Calling itself as the “fastest decentralized Exchange (DEX),” GTE aims to scale its Global Token Exchange (GTE) with this funding. GTE or the Global Token Exchange, co-founded by Mattro Lunghi and Enzo Coglitore, aims to make DEX spot trading faster and cheaper.

GTE aims to compete with the CEXs by providing the speed and liquidity of such exchanges on its Decentralized exchange itself. It has integrated all the components of a token’s lifestyle – launchpads, Spot Trading, Leverage Trading – in its GTE Trading engine.

Today, we’re proud to announce that GTE has raised a $15m Series A from @Paradigm to scale the Global Token Exchange.

We’ll use this capital to ship products even faster.

Because where we’re from, we not satisfied with being fast — we want to be the fastest.

Now back to work. pic.twitter.com/XfnHqojVOU

— GTE (@GTE_XYZ) June 23, 2025

A New DEX With “Unpopular” Model

Most DEX architectures today fall into two camps: One which use a Automated Market Makers (AMMs) such as Uniswap, SushiSwap, Curve, Balancer. They provide a simple, permissionless listing of new tokens, deep liquidity if pools are large. But they do incure impermanent loss for LPs and provide less precise pricing for large trades.

Second is CLOB model currently used by DEXs such as Solana’s Serum, dYdX, and Injective. GTE itself leverages a central limit order book (CLOB) model rather than the automated market maker (AMM) framework popularized by Uniswap and PancakeSwap.

On its DEX, all the buy and sell orders are matched directly on-chain. GTE says it can reduce slippage and improve price discovery for traders accustomed to traditional financial markets.

The platform is being built atop MegaETH, an Ethereum Virtual Machine–compatible layer-1 “real-time blockchain”. The chain promises higher throughput and lower gas fees – the key factors for achieving sub-second transaction finality.

Also Read: Paradigm Introduces New AMM

Can GTE’s CLOB Model Win Over AMMs?

If the comparision is made on metrics such as total trading volume, TVL, and user adoption, AMM-style DEXs are more popular than CLOB-based DEXs today.

According to the data of Q1 2025, the top two AMM platforms, Uniswap and PancakeSwap, together accounted for 47.2% of all DEX volume. If DEXs such as Curve, Balancer, SushiSwap, Trader Joe, are added, AMM pools represent well over 70% of total DEX volume.

However, for onchain order-book or CLOB-style DEXs like Serum or Injective, each command only single-digit percentages of the total DEX volume – often under 5% apiece.

This is because they cater to more professional traders and require off-chain matching or specialized infrastructure. Even the fastest growing order-book perpetual platform Hyperliquid, captures only about 25–30% of derivatives volume. But derivatives are just one slice of overall spot/AMM trading.

Top DEXs Today Use AMM Model | Source: Coinrank

Thus, GTE CLOB model with its recent funding support need to work deal with these challenges and work in a competitive landscape, particularly in Spot Trading.

Also Read: Bybit Announces DEX Byreal

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About Author

With over four years of experience in covering and tracking the financial markets, Sneha Agrawal is a dedicated Crypto Journalist and Editor with passion for researching and writing the crypto pieces. She is currently leading the Brandtalk section, here at CoinGape. She likes to keep track of political, legal and financial happenings all around the world - without which she deems her day incomplete. Apart from her Journalistic endeavours, she is a solo traveler, museum goer, and a keen reader of books.