Concordex Officially Launches Its Institutional-Focused DEX Built on Concordium

LONDON, England, June 26, 2023 (Newswire.com) - Concordex, the first dedicated DEX built on the Concordium blockchain, has officially launched on mainnet. The platform aims to bring institutional-grade DeFi trading tools to the Concordium ecosystem and has recently completed its testnet, which saw 867 users open 3,695 liquidity positions and complete 15,212 transactions.

Concordex, which raised $1.7 million in seed funding from Tacans Labs, Skynet Trading, Seier Capital, Amdax and Concordium blockchain in December 2022, aims to bring a comprehensive suite of TradFi and DeFi trading tools to the market while leveraging the strengths of the Concordium blockchain. The platform offers a variety of features such as regular swapping, as well as advanced liquidity management features, with its liquidity pools offering concentrated liquidity and multiple fee levels to maximize returns for investors.

"It is a very important part of the Concordium ecosystem infrastructure that we now celebrate with the launch of the first DEX. With Concordex' user-friendly and elegant design, as well as ambitious plans for continued additional functionality, I strongly believe that this cutting-edge project will play its part in defining the future and setting the standards for compliant DeFi," said Lars Seier Christensen, founder of Concordium.

"We are pioneering the development of regulation-friendly DeFi platforms by building on Concordium, while unlocking proper liquidity and bringing a strong set of DeFi trading tools to the ecosystem. We have set out to develop a platform that cuts out the barriers to entry in the institutional DeFi space," said Mathias Lundoe Nielsen, Chief Executive Officer at Concordex Labs.

"We're excited to unlock the potential of DeFi in the Concordium ecosystem while being one of the first regulatory-ready DEXes in the market. The Concordex team has been hard at work developing the platform and we're proud to launch a robust suite of trading tools that will enable our users to trade with ease while allowing liquidity providers to maximize their returns within the ecosystem," said James Davies, Chief Product Officer at Concordex Labs.

Concordium is a permissionless, environmentally conscious Layer-1 blockchain ecosystem with a unique embedded identity verification layer that offers regulatory compliance while ensuring privacy for its users. It provides a secure way for users and enterprises across the world to access the world of DeFi while remaining compliant.

Concordex will utilize the regulatory-ready ecosystem to offer one of the first regulation-friendly DeFi platforms, a radical step forward in the evolution of DeFi, paving the way for wider adoption of blockchain technology across the world.

About Concordex

Concordex is an advanced institutional-grade liquidity management DEX built on the Concordium blockchain. The project was developed by DeFi venture studio Tacans Labs, with core team members including award-winning entrepreneur Mathias Lundoe, and industry veterans James Davies, Ivan Ivaschenko, and Marie Tatibouet. The platform aims to launch on Mainnet in Q3 2023.

For more information, please visit: concordex.io

Source: Concordex