Decentralized exchange Mangrove completed $7.4 million in Series A financing, led by Cumberland and Greenfield Capital, and participated by CMT and Gumi Crypto Capital (gCC). . Funds raised this time will be used to provide features and conduct research on the exchange.

It is reported that Mangrove provides liquidity through its "offer-is-code" method to build its order book-based decentralized exchange. Mangrove will launch first on Polygon and will be rolled out to multiple Ethereum Virtual Machine (EVM) compatible chains this year. Mangrove had completed a $2.7 million seed round of financing in 2021.