According to CoinMeta, the on-chain financial brokerage network spicenet has announced the completion of a $5 million Series A financing round. This round was led by dao5, with babylon and astrarizon also participating in the investment. Together with the previous $3 million seed round co-led by hack, vc, magnus, and capital, the total amount of financing has reached $8 million. The new funds will be used to launch cross-location margin accounts spice and edge, issue an ecosystem token spice, and provide initial liquidity for the products built on their network. spicenet is built on a dedicated L1 settlement layer supported by celestia. Its core products include a cross-chain one-click interaction protocol spice and flow, as well as tokenized stock consumer-grade applications spice and stocks that are currently under development.