• Concordex, the first dedicated decentralized exchange (DEX) built on the Concordium blockchain, has officially launched its testnet.
• The project raised $1.7 million in seed funding from various investors in December 2022 to bring institutional-grade DeFi trading tools to the Concordium blockchain ecosystem.
• It provides a secure way for users and enterprises across the world to trade and remain compliant while ensuring the privacy crypto users have grown accustomed to.
About Concordex
Concordex is the first dedicated decentralized exchange (DEX) built on the Concordium blockchain, which has recently launched its testnet. This project has raised $1.7 million in seed funding from Tacans Labs, Skynet Trading, Seier Capital, Amdax and Concordium blockchain in December 2022 to bring institutional-grade DeFi trading tools to the Concordium blockchain ecosystem.
Features of Concordium
Concordium provides a secure way for users and enterprises across the world to trade and remain compliant while ensuring the privacy crypto users have grown accustomed to. It is a permissionless green Layer 1 science-backed blockchain creating a safer digital world with an embedded identity verification layer that offers a regulatory-ready environment for DeFi platforms like Concordex.
The Launch of Testnet
With this launch of testnet today, users can get a glimpse into the robust set of DeFi tools being developed for the Concordium blockchain by leveraging their regulatory-ready infrastructure. This will offer one of the first regulation-friendly DeFi platforms taking a significant step forward in the evolution of DeFi while offering a unique trading experience for traders around globe.
Chief Product Officer’s Statement
James Davies, Chief Product Officer at Concrodex Labs said: “The launch of our testnet today will offer a glimpse into the robust set of DeFi tools we are developing for the Concordium blockchain. By leveraging their regulatory-ready blockchain ecosystem, Concrodex is set to be one of the first regulation-friendly DeFi platforms in the market, taking a significant step forward in the evolution ofDeF i , while offering a unique trading experience for users”
Conclusion
Concordex is looking forward to making advancements in providing institutional grade financial services within its chain through their newly launched Testnet platform while meeting all regulations associated with it; thus allowing more global user access as well as more use cases related cryptocurrency transactions without compromising on security or privacy concerns that crypto traders usually face.