Concordex brings institutional derivatives to the Concordium blockchain with a $1.7 million seed round

Concordex, the first dedicated DEX (decentralized exchange) 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 derivatives to the blockchain ecosystem of bring in Concordium.

Interest in decentralized exchanges has surged after a number of high-profile centralized trading platforms in the crypto space collapsed throughout 2022.

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

Concordia – the basis for institutional decentralized funding

Concordium is a unique Layer One public 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 are connected 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 development of DeFi.

James Davies, Concordex Chief Product Officer said:

“Concordex will enable true margin trading for DeFi through a suite 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 leverage trading, eventually becoming a full on-chain derivatives market fully powered by Concordium.”

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 AMM (Automated Market Making) to the Concordium ecosystem, allowing projects to easily launch their own tokens into the ecosystem.

Lars Seier Christensen, Founder of Seier Capital said:

“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.”

Lone Fønss Schrøder, Chief Executive Officer of Concordium said:

“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.”

About Concordex

Concordex is an advanced institutional-level liquidity management DEX on the Concordium blockchain. The project was built by web 3.0 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 the mainnet in the first quarter of 2023.

Visit the website for more information.

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 web 3.0 venture Builder invested in the future economy of blockchain by building, funding and acquiring cutting-edge Web 3.0 companies.

Launched in 2021, the group’s portfolio consists of seven multi-sector Web 3.0 companies with an aggregate valuation of over $63 million.

Visit the website for more information.

This content is sponsored and should be considered promotional material. Opinions and statements expressed herein are those of the author and do not reflect the opinion of The Daily Hodl. The Daily Hodl is not affiliated with or owned by any ICO, blockchain startup or company advertising on our platform. Investors should do their due diligence before making high-risk investments in ICOs, blockchain startups, or cryptocurrencies. Please note that you invest at your own risk and any losses you suffer are your responsibility.

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