Home » DEX EmiSwap, run by the community, raises $ 104 million in private funds

DEX EmiSwap, run by the community, raises $ 104 million in private funds

EmiSwap, a community-run decentralized exchange (DEX), has raised $ 104 million from a large number of investors, each of whom deposits a maximum of $ 25,000 each.

Sponsors of the exchange, which runs as a decentralized autonomous organization, include Carl Moon, Box Mining, Edna, Jason D of TMM Holdings, Hodl.global, ExNetwork Fund and Inclusion Crypto Fund.

EmiSwap describes itself as a decentralized, gamified automated marketplace exchange creator. Automated exchanges based on market makers are not based on order books like regular exchanges, but use mathematical formulas to value assets. They also provide liquidity to various groups and use smart or peer-to-peer contracts for trading.

EmiSwap’s offering to investors, moreover, is a full refund of Ethereum’s gas tariffs. In the third quarter of this year, it also plans to launch non-expendable token cards, called NFT Magic Cards, as a gamified device that aims to attract more users. The platform’s strategy also includes offering rewards to encourage liquidity providers and exchangers, provide cross-platform and multi-chain support, and encourage ESW token holders to vote on the organization’s future development.

DEX is the first project launched as part of the EmiDAO alliance, members include Alpha Sigma Capital, DigiFinex Exchange, IDCM Exchange, HollaEx Exchange and others. Among them, the experience of the partners covers a range of knowledge in digital currency exchange operations, Defi projects, financial services and regulatory compliance (eKYC and AML).

Other recent increases in the challenge space include the support of 16 leading blockchain investment firms from the Composable Finance Challenge Interoperability Protocol and the raising of funds for the diversification of cryptocurrency venture capital firms. Both were significantly smaller sums of capital, of $ 7 million and $ 5 million respectively.

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