Spicenet has raised $5 million in a Series A round led by dao5. According to Odaily, Babylon and Astrarizon also participated. The company previously raised $3 million in a seed round co-led by Hack VC and Magnus Capital, bringing its total funding to $8 million. The new funding will support the launch of Spice Edge, a cross-venue margin product, and the SPICE token, as well as provide initial liquidity for products on the network. Spicenet said trading volume on the beta version of its cross-chain product, Spice Flow, has exceeded $160,000. Spice Edge is expected to launch in beta, with Derive as its first partner.