June 27, 2024
Fenix, a Decentralized Exchange (DEX) Protocol, has successfully completed a seed round, raising $300,000. The round saw significant participation from Orbs, along with a distinguished list of investors, builders, angels, and advisors. Central to their fundraising effort was the creation of a supportive DeFi native network, possessing profound knowledge in the ve(3,3) model and the Blast ecosystem.
Project | Latest Raise | Latest Raise Date | Stage | Lead Investor | Category |
|---|---|---|---|---|---|
Fenix Finance | $300K | June 27, 2024 | Seed | Orbs | Trading |
Orbs, acting as the lead investor and technology partner, signifies their joint dedication to transforming Fenix into the most sophisticated DEX on Blast. They are on the verge of launching The Fenix Liquidity Hub. This will empower traders to exchange any token on Blast at the best price execution, facilitated by the aggregation of on and off-chain liquidity. This is made possible by the Orbs L3 technology.
This funding will hasten our progress in revolutionizing the DEX market on the second biggest ETH layer 2. This will be achieved through a novel Blast native incentives model that sets new standards for productivity, capital effectiveness, and reward creation within the ve(3,3) model. This model is distinctively coupled with extensive spot and perpetual trading markets.
About Fenix Finance
Fenix Finance is a decentralized exchange (DEX) that operates on the Blast platform. It offers deep spot and perpetual trading markets. Users can deposit liquidity to earn FNX emissions. By staking veFNX, users can receive 100% of platform rewards.
Fenix Finance provides an advanced liquidity platform on Blast with automated position management2. Users can deposit liquidity and earn rewards. Fenix Finance’s mission is to accelerate ecosystem growth through a next-generation platform that gives Blast traders, liquidity providers, and protocols access to a complete infrastructure stack all under one roof. Their objective is to drive liquidity for the Blast ecosystem.
Website: https://www.fenixfinance.io/
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About Investor
Investor: Orbs
Orbs is a public blockchain infrastructure project that identifies itself as a “Layer-3” solution. It is powered by Proof-of-Stake (PoS) consensus. Orbs operates as a separate execution layer between existing L1/L2 solutions and the application layer, forming part of a tiered blockchain stack. This setup enhances the capabilities of smart contracts.
Orbs aims to act as a “decentralized backend”, improving the functionalities of existing EVM and non-EVM smart contracts, and opening a wide range of possibilities for Web 3.0, DeFi, NFTs, and GameFi. It operates as a decentralized serverless cloud, allowing developers to extend smart contracts with L3 decentralized backend services. These services are executed by Orbs PoS validators, known as Guardians, eliminating the need for projects to rely on centralized backend solutions.
Website/s: https://www.orbs.com/
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