Concordex, the first dedicated decentralized exchange (DEX) built on top of 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 blockchain bring in ecosystem of Concordium.
Interest in decentralized exchanges has surged after a number of high-profile centralized trading platforms in the crypto space collapsed throughout 2022. DeFi) through an extensive range 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 an embedded identity verification layer that offers users and businesses around the world a secure way to trade and stay compliant, while ensuring the privacy of the crypto users to whom they got used to. Concordex will leverage the regulation-ready Concordium ecosystem to offer one of the first regulation-friendly DeFi platforms, a radical step forward in the evolution of DeFi.
“Concordex will enable true margin trading for 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 leverage trading, eventually becoming a full on-chain derivatives market fully powered by Concordium.”
said James Davies, Concordex chief product officer.
In addition, the platform will offer advanced liquidity management, such as customizable liquidity pools, allowing liquidity providers to optimize capital deployment and maximize returns over time. Leveraging Concordium’s finality and shielding, liquidity pools on the platform are protected from front running. It will also bring best-in-class Automated Market Making (AMM) to the Concordium ecosystem, allowing projects to easily introduce their own tokens into the ecosystem.
“With the increasing 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 drive the ecosystem forward.”
said Lars Seier Christensen, founder of Seier Capital.
“We are excited to launch the first dedicated DEX on Concordium. Concordex will help advance our mission of making the Concordium ecosystem more accessible to individual and institutional users, while allowing them control and custody of their assets,” said Lone Fønss Schrøder, Chief Executive Officer of Concordium.
About Concordex
Concordex is an advanced institutional-level liquidity management DEX on the Concordium blockchain. The project was built by Web3 venture builder Tacans Labs, whose core team members include award-winning entrepreneur Mathias Lundoe and industry veterans James Davies, Ivan Ivaschenko and Marie Tatibouet. The platform is scheduled to launch on mainnet in the first quarter of 2023.
More information can be found here.
About Tacan’s 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 that has invested in the future blockchain economy by building, funding and acquiring cutting-edge Web3 companies. Launched in 2021, the group’s portfolio consists of seven multi-sector Web3 companies with an aggregate valuation of over $63 million.
More information can be found here.
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