Pantera Leads $7.5M Seed Round for Blast-Based DEX Platform Thruster

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The decentralized finance (DeFi) landscape continues to evolve at a rapid pace, with innovative platforms emerging to meet growing demand for scalable, yield-optimized solutions. One such project making waves is Thruster, a decentralized exchange (DEX) built on the Ethereum Layer-2 network Blast. Recently, Thruster secured a significant milestone by raising $7.5 million in a seed funding round led by the renowned crypto investment firm Pantera Capital.

This strategic round was completed at a post-money valuation of $70 million, underscoring strong investor confidence in Thruster’s vision and execution. The financing was structured as a Simple Agreement for Future Equity (SAFE) with token warrants, signaling long-term commitment from backers.

Key Investors and Strategic Backing

Joining Pantera Capital in the round were several high-profile venture firms and individual contributors, including:

In addition to institutional support, Thruster attracted notable angel investors from across the DeFi ecosystem. These include Sam Kazemian, founder of Frax; TN Lee from Pendle; Alex Lin of Stacked; Kratik Lodha of Renzo; and Georgios Vlachos from Axelar. Their involvement not only brings capital but also deep technical expertise and network access that can accelerate Thruster’s growth.

👉 Discover how top-tier funding fuels next-gen DeFi innovation on emerging Layer-2 ecosystems.

Thruster’s Unique Value Proposition

Thruster differentiates itself through an integration-first approach designed to maximize yield for liquidity providers. Unlike traditional DEXs that operate in isolation, Thruster actively partners with other protocols to create synergistic yield opportunities across DeFi, NFTFi, and restaking ecosystems.

Since launching less than two months ago, the platform has quickly risen to become the second-largest protocol on Blast, boasting a total value locked (TVL) of nearly **$320 million**—just behind Juice Finance’s $358 million, according to DeFiLlama.

Beyond TVL, Thruster has already processed over $2 billion in transaction volume from more than 100,000 unique users, demonstrating strong product-market fit and user engagement.

Why Blast? A Yield-Driven Ecosystem

Thruster’s choice of Blast as its foundational Layer-2 is no accident. Blast operates on a yield-and-incentive-first model, where native yield accrues directly to users who deposit ETH or stablecoins—without requiring active participation in staking or liquidity provision.

As 0xFri, a pseudonymous core contributor to Thruster, explained:

“We saw Blast as an exciting new ecosystem to build on based on its yield and incentive-first model. In DeFi, yield and incentives are what drive attention. With Blast creating a system through which greater and more sustainable yields can be achieved, more users and builders should flock to that chain over others.”

This alignment between platform incentives and user benefits creates a powerful flywheel effect—one that Thruster is strategically positioned to amplify.

Roadmap: Scaling Team, Integrations, and UX

Despite its rapid success, Thruster currently operates with a lean team of just 10 members. The newly raised capital will be used to:

The goal is not just to compete within the DEX space—but to redefine what users expect from decentralized trading platforms.

👉 See how emerging DEXs are bridging the gap between decentralized security and centralized usability.

Strategic Use of Funds: Building Interoperable Liquidity

One of Thruster’s most ambitious goals is to make its liquidity and products composable across top-tier protocols. By embedding Thruster’s infrastructure into other platforms, the team aims to enable seamless yield aggregation, cross-protocol swaps, and enhanced capital efficiency.

This composable strategy aligns with broader trends in DeFi, where modular design and interoperability are becoming key competitive advantages.

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Frequently Asked Questions (FAQ)

What is Thruster?

Thruster is a decentralized exchange platform built on the Blast Layer-2 network. It focuses on maximizing yield for liquidity providers through deep integrations with other DeFi and NFTFi protocols.

Who led Thruster’s seed round?

The $7.5 million seed round was led by Pantera Capital, one of the earliest and most influential investors in the cryptocurrency space.

What is Blast?

Blast is an Ethereum Layer-2 scaling solution that offers native yield on ETH and stablecoin deposits. It combines fast transaction speeds with economic incentives to attract developers and users.

How much funding did Thruster raise?

Thruster raised $7.5 million in a seed round at a $70 million post-money valuation via a SAFE with token warrants.

Is Thruster open-source?

While specific details about code transparency were not disclosed in the announcement, many projects on Blast prioritize open-source development. Users are encouraged to verify contracts independently.

How does Thruster generate yield for LPs?

Through strategic integrations with yield-generating protocols, Thruster channels additional rewards—such as staking yields, protocol incentives, and trading fees—directly to liquidity providers.

👉 Explore how integrated yield engines are transforming passive income in DeFi today.

Final Thoughts: A Rising Force in DeFi

Thruster’s early traction—backed by top-tier investors and anchored in a high-potential ecosystem like Blast—positions it as a project to watch in 2025 and beyond. Its focus on composability, user-centric design, and sustainable yield generation reflects the next evolutionary phase of decentralized exchanges.

As Layer-2 adoption accelerates and users demand better returns with lower friction, platforms like Thruster could play a pivotal role in bridging traditional finance expectations with blockchain-native innovation.

With plans to scale its team and deepen cross-protocol collaboration, Thruster isn’t just building another DEX—it’s building an interconnected layer of financial infrastructure for the future of Web3.