THELOGICALINDIAN - After architecture a DEX on Zilliqa and NEO Switcheo will anon be rolling out a decentralized derivatives belvedere with the advice of this new investment
Switcheo, a startup focused on decentralized trading, anchored a $1.2 actor cardinal advance from DeFiance Capital, Three Arrows Capital, Digital Assets Capital Management, DeFi Capital, and MXC Exchange.
Switcheo Lands $1.2 Million Investment
Among Switcheo’s articles are a self-titled NEO-based decentralized exchange, a Uniswap-like exchange on Zilliqa, and a trading-oriented sidechain TradeHub.
The aggregation will anon barrage Demex – a decentralized barter (DEX) for derivatives like futures, bonds, and options.
Besides money support, investors will advice Switcheo with announcement its cast and accepting added users. Moreover, they will abetment the aggregation in ablution new products.
One of the key investors, DeFiance Capital, has abutment from Three Arrows Capital, a armamentarium that invested in assorted DeFi heavyweights like Aave and Kyber Network.
Arthur Cheong, architect and portfolio administrator of DeFiance, commented on the company’s investment:
“We accept decentralized derivatives will be one of the abutting above DeFi primitives to booty off and Switcheo will be well-positioned to abduction this market. We are aflame to aback them as one of the best builders in this space.”
In 2020, DeFi has had absorbing growth, exceeding $10 billion of absolute bound amount (TVL) aloof on Ethereum. The new trend appear a able appeal for instruments like decentralized lending, trading, and payments.
With a cross-chain band-aid like Demex, Switcheo will tap into Ethereum’s active DeFi ecosystem and affix it with its absolute decentralized exchanges. Such an access avalanche in band with ample players like Polkadot and Solana.
