Concordex Brings Institutional Derivatives to Concordium Blockchain with $1.7M Seed Round

Concordex, the first dedicated DEX (decentralized exchange) built on Concordium, has raised $1.7 million in seed funding from Tacans Labs, Skynet Trading, Seier Capital and Concordium to bring institutional derivatives to the Concordium blockchain ecosystem.

Decentralized exchanges have seen a surge in interest after a number of high-profile centralized trading platforms in the crypto space collapsed throughout 2022.

Concordex will offer users an institutional-grade investment platform that bridges the gap between TradFi (traditional finance) and DeFi (decentralized finance) through a comprehensive suite of products and services, offering true margin and derivatives trading.

Concordium – the basis for institutional decentralized finance

Concordium is a unique public layer one blockchain with a built-in identity verification layer, providing a secure way for users and businesses worldwide to transact and remain compliant while ensuring the privacy crypto users have come to expect.

Concordex will use the regulatory-ready Concordium ecosystem to offer one of the first regulatory-friendly DeFi platforms – a radical step forward in the development of DeFi.

James Davies, product manager at Concordex, said:

“Concordex will bring true margin trading to DeFi through a range of margin and prime brokerage tools, bridging the gap between TradFi (traditional finance) and decentralized finance.

The platform will offer the first of its kind on-chain trading which will eventually become a full on-chain derivatives market fully powered by Concordium.

In addition, the platform will offer advanced liquidity management, such as adaptable liquidity pools that will allow liquidity providers to optimize capital deployment and maximize returns over time.

By leveraging Concordium’s finality and shielding, liquidity pools on the platform will be protected from front-running. It will also bring best-in-class AMM (automated market making) to the Concordium ecosystem, allowing projects to easily launch their own tokens in the ecosystem.

Lars Seier Christensen, founder of Seier Capital, said:

“With the growing lack of trust in unregulated centralized exchanges, decentralized exchanges are the logical next step in the evolution of crypto and blockchain technology. Concordium offers a unique value proposition and Concordex is well positioned to steer the ecosystem forward.”

Lone Fønss Schrøder, CEO of Concordium, said:

“We are excited to see the launch of the first dedicated DEX on Concordium. Concordex will help advance our mission to make the Concordium ecosystem more accessible to individual and institutional users, while allowing them to maintain control and custody of their assets .”

About Concordex

Concordex is an advanced institutional liquidity management DEX on the Concordium blockchain. The project was built by Web 3.0 venture builder Tacans Labs, with core team members including award-winning entrepreneur Mathias Lundoe and industry veterans James Davies, Ivan Ivaschenko and Marie Tatibouet. The platform aims to launch on the mainnet in the 1st quarter of 2023.

For more information, please visit the website.

About Tacans Labs

Co-founded by Danish entrepreneurs Lars Seier Christensen, founder of Saxo Bank and Concordium blockchain, and Mathias Lundoe Nielsen, an award-winning serial entrepreneur with multiple tech ventures, Tacans Labs is the DeFi arm of Tacans, a Web 3.0 venture builder invested in the future economy of blockchain by building, financing and acquiring pioneering Web 3.0 companies.

Launched in 2021, the group’s portfolio consists of seven Web 3.0 companies across multiple sectors with a combined valuation of over $63 million.

For more information, please visit the website.