Hubble Exchange
It matched orders on its own blockchain and closed on three days' notice
A decentralized perpetual futures exchange on Avalanche that moved from a virtual AMM to an order book matched inside its own subnet, Hubblenet.
- Capital raised (announced)
Recorded announced backing; this is separate from cash received, customer deposits and money recovered.
Funding
| Round | Date | Announced | Investors |
|---|---|---|---|
| Strategic round | 2022 |
Announced is what was said at the time. Cash actually received is rarely disclosed and is not assumed to match.
Timeline
10 March 2022
The company described engineering plans ahead of a mainnet launch on Avalanche.
17 May 2024
1/ Today, we regretfully announce that Hubble Exchange will be closing down. Trading will cease and all positions will be wound down. The exchange will enter reduce-only mode on May 19th 13:30 UTC and positions will be settled at index price on May 20th 13:30 UTC.
· Live as of 2026-09-25 (pinned on the account) 19 May 2024
20 May 2024
How it ended
The company said usage and trading had stayed below expectations, that it had struggled to improve liquidity because of limits of the Ethereum Virtual Machine and financial constraints, and that it could not reach competitive performance within its runway. Trading was wound down and traders were credited their unrealized profit and loss.
Still alive
Open spot
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Sources
5 sources behind this page.
- 1Decentralized Platform for Trading Perpetual Futures, Hubble Exchange, Raises $3.3M in Strategic Partnership Led by Framework Ventures · Crypto Reporter (press release distributed for the company) · Mar 2022
- 2Hubble Exchange Raises $3.3M to Put Perpetual Futures on Avalanche · Decrypt · Mar 2022
- 3Hubble Exchange on X: closing-down announcement · Hubble Exchange on X (account id 1431809874535477255), retrieved via twitterapi.io · May 2024
- 4Hubble Exchange on X: posts of 17 to 20 May 2024 (closing-down thread) · Hubble Exchange on X (account id 1431809874535477255), retrieved via twitterapi.io · May 2024
- 5Hubble Exchange (@HubbleExchange) account record · twitterapi.io (X data provider)
Every figure above is clickable and opens the sources behind it. Copies were stored when each source was read, so a citation still resolves after the page it came from is gone.