[PRESS RELEASE – Schwarzenbach, Switzerland, May 25th, 2023]
Concordex, the 1st dedicated decentralized exchange (DEX) built on the Concordium blockchain tech, has officially launched its testnet. The project raised $1.7 Million in seed funding from Tacans Labs, Skynet Trading, Seier Financial resources, Amdax and Concordium blockchain tech in December 2022 to attract institutional-grade Decentralized Finance trading tools to the Concordium blockchain tech ecosystem.
Concordium is the permissionless green Layer 1 science-backed blockchain tech creating a safer digital world with an embedded identity verification layer. It provides a secure way for users and enterprises across the world to trade and remain compliant while ensuring the privacy cryptocurrency users have grown accustomed to. Concordex will utilize the regulatory-ready Concordium ecological system to offer one of the 1st regulation-friendly Decentralized Finance platforms, a radical step forward in the evolution of DeFi.
“The launch of our testnet today will offer a glimpse into the robust set of Decentralized Finance tools we are developing for the Concordium blockchain tech. By leveraging their regulatory-ready blockchain tech ecological system, Concordex is set to be one of the 1st regulation-friendly Decentralized Finance platforms in the market, taking a whole lot of step forward in the evolution of Decentralized Finance, while offering a unique trading experience for users,” stated James Davies, Chief Product Officer at Concordex Labs.
“Concordium meets the growing demands from institutional investors for enterprise-grade Decentralized Finance. Together with Concordex we will provide the highest standards of safety, compliance and scalability. Unlocking liquidity, diversification, and yield generation beyond traditional investments. ” Torben Kaaber, Head of Commercial at Concordium
Concordex will attract a variety of features to the Concordium ecological system, including simple trading, likewise as concentrated liquidity and flexible fee levels for liquidity providers allowing them to optimize financial resources deployment and maximize returns over time. With a team of highly capable TradFi and Decentralized Finance veterans, the platform is set to bridge the gap betwixt TradFi and Decentralized Finance with true on-chain derivatives and other tools dedicated to institutional investors.
To celebrate the launch of its public testnet, Concordex has likewise launched a Concordex Testnet Bonus Program, allocating a total of USD 100,000 in its next $CCDX crypto token as bonus for participants in the program, which is set continuation for the duration of the testnet phase with bonus distributed after the token’s crypto token generation event (TGE) thereafter this year.
Concordex is an advanced institutional-grade liquidity management DEX built on the Concordium blockchain tech. The project was developed by Decentralized Finance deal 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 intends to launch on Mainnet in Q3 2023.
Concordium is a permissionless green layer 1, a science-backed blockchain tech that balances privacy with accountability through its ID layer and Zero-knowledge proofs. Creating trust with ID is key to growing enterprises. Concordium provides a fast, secure, and high-scale blockchain tech platform that makes building use cases and using dApps easy. Concordium differs by having verified ID and instant finality with high throughput and low transaction charges, pegged to FIAT. With leadership from Fortune 500 corporations, Volvo, IKEA, Credit Suisse, Uber, and successful Fintech platforms, the team is growing the chain to its extensive network of the world’s largest enterprises.