Spicenet announced that it has completed a $5 million Series A funding round led by dao5, with Babylon and Astrarizon also participating. The company previously raised $3 million in a seed round, bringing its total funding to $8 million. Spicenet will use the new funding to launch Spice Edge and the SPICE token, and provide initial liquidity for its network products. Spice Edge is about to enter beta, with Derive as its first partner.