Elixir has closed a Series B at an $800M valuation

Elixir, a decentralized liquidity and market-making protocol, has closed an $8 million Series B round at an $800 million valuation, bringing the project close to unicorn status within the crypto sector. The round was co-led by blockchain R&D firm Mysten Labs and crypto investment firm Maelstrom, with participation from Manifold, Arthur Hayes, Amber Group, GSR, Flowdesk and others. This follows a rapid valuation increase from about $100 million around its Series A to $800 million for the Series B, reflecting strong investor confidence in Elixir’s model and traction. Elixir focuses on providing orderbook liquidity across both centralized and decentralized exchanges, positioning itself as an alternative to traditional automated market maker (AMM) models by letting users supply liquidity directly to order books and earn maker rewards. According to project disclosures, Elixir already supplies a significant share of orderbook liquidity to derivatives DEXs such as Bluefin, Vertex, and RabbitX, with planned integrations including dYdX, Hyperliquid, Orderly and dozens of other venues. The new capital is intended to accelerate development of its high-throughput network and expand native integrations, reinforcing Elixir’s role in infrastructure for on‑chain and exchange-based trading.

✨ AI-generated background, compiled from web sources — not editorial content.

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