Veax, a Zug, Switzerland-based provider of a traditional finance empowered decentralized exchange, raised $1.2M in Pre-Seed funding.
Backers included Circle Ventures, Proximity Labs, Tacans Labs, Outlier Ventures, Skynet Trading, and Qredo.
The company intends to use the funds to launch its platform, expand operations and its business reach.
Led by CEO Mathias Lundoe Nielsen and CPO James Davies, Veax is a single-sided liquidity management DEX built natively on the NEAR blockchain with TradFi-empowered features. The launch of the platform will bridge traditional finance features with liquidity deployment and flexibility provided by decentralized infrastructure, allowing a transition for the centralized exchange and traditional finance users to test it out in DeFi.
According to their roadmap, Veax is currently on track to launch their v1 Testnet in early December and the research paper on the adaptable liquidity pool. Going forward, the project will launch on Mainnet by the end of the year and the public token sale is scheduled in Q1 2023.
FinSMEs