Kaddex, the “first gas-free DEX” (decentralized exchange) built on the Kadena blockchain, has finalized a second sale “completing a total of $8M raised pre-launch.”
As confirmed in an update shared with CI, “100% of KDX available in the second round was sold.”
The second public sale on Tokensoft was reportedly “held between March 4th and March 14th 2022, with 3,000 individual users completing purchases.”
Now Kaddex, following the sale’s conclusion, is “preparing for its platform launch.”
It is offering what it claims is “the first DEX on the Kadena Blockchain to deliver gas-free DeFi through Kadena’s powerful Proof-of-Work (PoW) network.”
The braided chain framework “enables scalable utility and boasts features such as fast and gas-free transactions that allow Kaddex to provide a [seamless] DeFi experience for both the trader and liquidity provider.”
The entire $8M amount was “raised during the sales from real users without selling to VCs or to any buyer at a discount.” The second sale was completely “sold out days before it was scheduled to end.”
Within the Kaddex platform, the Kaddex DAO “allows the community to steer the development of new infrastructure. Incentivizing participation through swap pairs is decided through the community, as voting puts collective decision making as the driver of new ideas.”
Chief Product Officer, Nicolas Ramsrud, stated:
“We deeply believe in the power of decentralization and the success of this sale is a massive enabler for us in involving the community in delivering a groundbreaking DeFi revolution on Kadena.”
Throughout its environment Kaddex “prioritizes usability while realizing a straightforward trading experience through its impressive user-friendly platform.”
Community access is “paramount” to the Kaddex vision, “creating the open environment that everyone wants to use and be a part of, with collective decision-making protocols at the heart.”
In early 2022, Kaddex launched X-Wallet, which is a web extension wallet that “works conveniently through the user’s web browser.”
X-Wallet enables interaction with Kadena’s DeFi ecosystem via “seamless interaction with dAapps built on the Kadena Network, with credit and debit card payment support through Simplex, the largest fiat infrastructure for digital currencies.”
The user experience is the key to “positioning Kaddex as the most powerful and easy-to-use DEX and a DeFi tool suite supporting the Kadena ecosystem, without any of the costly fees.”
Builders and users are “rewarded with DeFi created the way it was supposed to be: open to all, community-owned, simple to use, without barriers to participation.”
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