Concordex Bringing Institutional-Grade Derivatives to Concordium Blockchain with $1.7M Seed Round
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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 rise in interest after a series 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 traditional finance (TradFi) and decentralized finance (DeFi) through an extensive suite of products and services, offering true margin and derivatives trading.
Concordium is a unique public-layer 1 blockchain with an embedded identity verification layer, providing a secure way for users and enterprises across the world to trade, and remain compliant, while ensuring the privacy crypto users have grown accustomed to. Concordex will utilize the regulatory-ready Concordium ecosystem to offer one of the first regulation-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 first of its kind on-chain leverage trading that will eventually become a full on-chain derivatives market that is fully powered by Concordium,” said James Davies, Chief Product Officer of Concordex.
Additionally, the platform will offer advanced liquidity management, such as adaptable liquidity pools which will allow
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