- Through two funding rounds, CVEX has raised $7 million.
- The money will help the mainnet launch of the decentralized protocol this summer.
The $7 million that Crypto Valley Exchange (CVEX) has raised will go toward helping it launch its primary network later this year.
The funds were raised in pre-seed and seed rounds, co-led by Fabric Ventures and Kyber Capital Crypto Fund, with contributions from AMDAX, Wave Digital, Funfair Ventures, Seier Capital Family Office, Five T Group, and Saxon, according to a statement issued by the company on Tuesday.
The funds will be utilized to begin the decentralized exchange’s (DEX) mainnet debut this summer.
As we put the finishing touches on CVEX, it’s evident to us that this is more than simply incremental innovation—we are here to alter how derivatives are traded, according to a statement released on Tuesday by James Davies, Chief Product Officer of CVEX.
CVEX is a DEX that uses unique bid-offer dynamics to undercut other trading systems in order to provide transparent, affordable, and options-focused trading to cryptocurrency holders. For instance, the platform’s creators stated that there are no funding fees while trading futures using leverage.
With improved trading capabilities, the DEX’s mainnet will debut on Arbitrum and enable user wallets on Ethereum, Optimism, BASE, and Solana. On CVEX, collateral deposits are made in Circle’s USD Coin (USDC).
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
