Fenix Finance successfully raises $300k in seed funding

Interesting information from the earth of decentralized finance! Fenix Finance, a decentralized exchange protocol on the Blast network, has lately secured a sizeable $300,000 seed financial investment round.

Main this funding spherical is Layer-3 protocol Orbs, also Fenix’s technology husband or wife, displaying solid guidance for the task.

Fenix’s Upcoming Programs

With the aim of enhancing the person knowledge and over-all financial advancement on Blast, Fenix programs to deploy these cash in the direction of further more platform enhancement.

The support from Orbs is established to propel Fenix Finance toward introducing new items and growing its ecosystem, providing a lot more benefit to its consumers.

Just one important development in the pipeline is the Fenix Liquidity Hub, a new attribute enabled by Orbs L3 technological know-how. This enhancement will empower Blast customers to entry token swaps with optimized cost execution, using equally on-chain and off-chain liquidity.

On top of that, Fenix is focusing on increasing the Fenix Nest, incorporating critical Curve ecosystem elements to enrich the voting incentives marketplace in just the protocol.

Also, the staff is prioritizing the onboarding of new companions and deepening the accessible liquidity to strengthen the platform’s basis.

Since its Open up Beta start much less than two months back, Fenix Finance has knowledgeable amazing advancement, with around 5,000 consumers onboard and a buying and selling volume exceeding $150 million.

Orbs’ Contribution to DeFi

Orbs’ decentralized L3 blockchain infrastructure is revolutionizing the DeFi current market by providing advanced on-chain buying and selling abilities, bridging the hole concerning CeFi and DeFi.

Via optimized buying and selling mechanisms leveraging aggregated liquidity, on-chain derivatives, and superior investing orders, Orbs’ engineering is empowering Ethereum Virtual Device (EVM) and non-EVM wise contracts to obtain improved cash performance and further on-chain liquidity.

Also, Orbs has been actively investing in initiatives integrating its technological innovation, these as Thena, Symmio, IntentX, and Harris & Trotter, additional solidifying its place in the DeFi area.