19.3 C
New York
Saturday, October 16, 2021

Cardano DeFi Project deFIRE Secures $5M in Funding Round

Must read

deFIRE is a decentralized smart order routing engine being built for the Cardano ecosystem incubated and supported by Occam and powered by the industry leader in cross-chain liquidity provision, Changelly. 

It offers execution services across decentralized exchanges (DEX) such as token swaps, order routing services across DEXs, and providing intermediary services between order flow originators and ultimate execution venues. 

deFIRE’s goal has managed to draw the attention of several reputable investors within the Blockchain space, including Morningstar, SwissBorg Ventures, Lotus Capital, MoonWahle, GenBlock, Sheesha Finance, IBA, CoinsGroup, and more, who contributed to the success of the pre-IDO fundraising.

The project intends to use the newly acquired capital to increase the extent of Occam.fi and Changelly’s partnership. It intends to expand its infrastructure, grow its client base, and scale its operations by increasing its platform capacity. 

Speaking on the development, Mark Berger, Occam Association’s president, said:

…We embrace this challenge by merging a rockstar tech team that has built its name in the Cardano ecosystem and the wide business network and other resources of Changelly to build the first optimal execution infrastructure for Cardano. Led by the best team and powered by the CWAP native token, deFIRE is light years ahead of competition.

Changelly’s CEO, Eric Benz, added that “DeFIRE leverages DLT and a contemporary market architecture to revolutionize the high-performance trading landscape by significantly and transparently enhancing order execution quality for institutions and individuals alike. Working alongside, I am sure we will bring a lot of value and liquidity to the Cardano ecosystem.”

Cardano’s First

deFIRE will be the first fiat on-ramp and swap platform for Сardano native tokens and will allow any token holder to swap one Cardano token for another directly. The pre-IDO funding round will enable deFIRE to leverage token liquidity early in its life cycle.

SPECIAL OFFER (Sponsored)

Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).

PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to get 50% free bonus on any deposit up to 1 BTC.

- Advertisement -spot_img

More articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisement -spot_img

Latest article