Parex, a community-driven blockchain ecosystem, raises $6.5 million from Bitgert Ventures and DWFLabs

Parex, a community-driven DAO, has raised USD 3 million from DWFLabs, a multi-stage Web3 investment firm, and USD 3.5 million from Bitgert Ventures.

Wilmington, Delaware–(Newsfile Corp. – May 12, 2023) – Parex has developed a community-driven DAO ecosystem through its ParexChain, Parex Wallet, RaccoonSwap, Exchange and other decentralized applications. The company has secured 6.5 million dollars in a new investment round. The funding was provided by DWF Labs which invested $3 million, and Bitgert Ventures, the investment arm of cryptocurrency exchange Bitgert which invested $3.5 million.

Caption: Parex, a community-driven blockchain ecosystem, raises $6.5M from Bitgert Ventures and DWFLabs

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The investment round was completed just as Parex was preparing its ParexChain infrastructure, which is designed to provide a fully community-driven DAO blockchain ecosystem. The funds will enable Parex to accelerate its efforts to create an efficient DeFi and DAO ecosystem. A portion of the investment will be used to mine and support Parex mining operations.

Innovative blockchain solutions to reduce inflation

Liam Anthony, CEO of Parex, expressed his pride in DWFLabs and Bitgert Ventures, two significant investors who believe in Parex’s promising future. “As a company, Parex is committed to developing innovative blockchain solutions that prioritize community engagement and reduce inflation. With the support and expertise of top investors such as DWFLabs and Bitgert Ventures, we are even stronger as we gear up for the launch of the PEP20 Mainnet,” he said. “Soon we will announce the testnet of the PEP-20 blockchain infrastructure, and launch a massive AIRDROP campaign.”

Parex offers a Decentralized Autonomous Organization (DAO) ecosystem that includes a number of solutions such as a unique mining algorithm designed to eliminate inflation, an ecosystem token, blockchain infrastructure, decentralized applications, a crypto wallet and a cryptocurrency exchange.

Contact: Liam Anthony, [email protected]

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