Funding to support next-stage growth of the first DEX on the Kadena Blockchain
Kaddex, the first gas-free DEX (Decentralized Exchange) built on the Kadena Blockchain, has closed its $5.5 Million token sale. The sale took place over two weeks, beginning February 1st and closing on February 15th, 2022. Over 2500 unique individuals took part in the sale through Tokensoft, it precedes an additional sale planned following the first successful sale.
The public sales further support DeFi infrastructure on the Kadena network, providing liquidity and helping create a new standard of DeFi capability in its ecosystem.
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“We are delighted with the results of our first round of the token sale. It has shown us the broad and diverse support that sums up Kaddex,” said Head of Community, Grant Gerber. “Our backing comes from numerous countries, from all types of people, and it is evidence of the community-centered model that embodies and inspires our mission.”
Kaddex offers the first DEX built upon Kadena, the first truly scalable Proof-of-Work (PoW) layer-1 blockchain network. Through the power of Kadena’s braided chain framework, Kaddex can deliver gas-free liquidity pooling and a secure, straightforward trading experience through its impressive user-friendly platform.
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Its DeFi technical advantages aside, Kaddex believes in establishing true democracy and community ownership of its ecosystem, implementing the first financially sustainable Liquidity Mining program. This allows the community to steer the development of the platform, achieving a collective vision, while also incentivising participation in certain pairs, and therefore improving the user’s overall experience.
Altogether, Kaddex fulfills the promise of a DEX and a DeFi tool suite that is positioned to not only support the Kadena ecosystem, but to create DeFi in the way it was supposed to be: open to all, community owned, simple to use, without barriers to participation.
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