Concordex Brings Institutional Grade Derivatives to Concordium Blockchain with $1.7M Seed Round
Concordex raises $1.7 million in seed funding for institutional-grade DEX at Concordium
SCHWARZENBACH, SWITZERLAND, Dec. 19, 2022 /EINPresswire.com/ — Concordex, the first dedicated decentralized exchange (DEX) built on Concordium, has raised $1.7 million in seed funding from Tacans Labs, Skynet Trading, Seier Capital and Concordium to bring institutional-grade derivatives to the Concordium blockchain ecosystem.
Decentralized exchanges have seen a surge in interest following the collapse of a series of high-profile centralized trading platforms in the crypto space through 2022. Concordex will offer users an institutional-grade investment platform that bridges traditional finance (TradFi) and decentralized finance (DeFi) through a comprehensive series of products and services, offering true margin and derivatives trading.
Concordium, the foundation for institutional decentralized finance
Concordium is a unique public layer 1 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 evolution of DeFi.
“Concordex will bring true margin trading to DeFi through a suite of margin and prime brokerage tools, bridging the gap between traditional finance (TradFi) and decentralized finance. The platform will offer the first of its kind on-chain trading that will eventually become a complete derivatives market in the chain which is fully powered by Concordium, says James Davies, Chief Product Officer of Concordex.
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 automated market making (AMM) to the Concordium ecosystem, allowing projects to easily launch their own tokens in the ecosystem.
“With the growing lack of trust in unregulated centralized exchanges, decentralized exchanges are the logical next step in the development of crypto and blockchain technology. Concordium offers a unique value proposition and Concordex is well positioned to steer the ecosystem forward,” says Lars Seier Christensen, founder of Victory Capital.
“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, says Lone Fønss Schrøder, CEO of Concordium.
About Concordex
Concordex is an advanced institutional liquidity management DEX on the Concordium blockchain. The project was built by Web3 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 be launched on the Mainnet in the 1st quarter of 2023.
For more information, please visit: concordex.io
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 web3 venture builder invested in the future economics of blockchain by building, funding and acquiring pioneering Web3 companies. Launched in 2021, the group’s portfolio consists of seven Web3 companies across multiple sectors with a combined valuation of $63M+.
For more information, please visit: tacans.com
Dion Guillaume
Tacans Labs
[email protected]
