OpenEx Closes Funding Round to Build Hybrid Exchange Model
OpenEx, a cryptocurrency exchange, has closed its funding round with a valuation of $50 million. The round includes prominent names in the Web3 space such as C² Ventures and Agallochum Capital. The funding will be used to improve the trading experience on OpenEx’s platform.
Key Points:
– OpenEx aims to create a hybrid exchange model that integrates centralization and decentralization.
– The platform allows certified partners to act as their own liquidity providers, ensuring autonomy and membership sovereignty.
– OpenEx’s core principles are neutrality, fairness, and impartiality.
– By utilizing decentralized trading pools, OpenEx aims to foster increased participation in the trading ecosystem.
– The company plans to launch a trade mining program where users will be rewarded for trading.
According to CEO Jake Stolarski, OpenEx’s goal is to democratize the traditional CEX model by empowering users and providing fair transactions and personalized services. The exchange already has an active community of over 100,000 monthly users and a daily trading volume of approximately $100 million.
Hot Take: OpenEx’s hybrid exchange model could revolutionize the cryptocurrency industry by addressing the chronic issues of price risks, insider trading, and user security. By empowering users and promoting fairness, OpenEx has the potential to become a leading player in the crypto exchange market.
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