Veax, a brand new decentralised exchange built on NEAR, offers a trustless DeFi experience by bringing well-known TradFi features to the world of DeFi.
Following news that the company raised $1.2 million in pre-seed funding in November, decentralised derivatives trading platform, Veax, has announced the launch of its public testnet. The DEX offers a suite of advanced trading features that sets it apart from its peers including advanced liquidity management, adaptable liquidity pools, true margin and derivatives trading and more.
DeFi has become a bit boring. We’re bringing back the excitement by building a truly unique DEX that merges the worlds of TradFi and DeFi. We believe that the future of finance is blockchain technology, so we’re actively developing the platform of tomorrow.
— Mathias Lundoe Nielsen, CEO of Veax Labs
The architecture of Veax is partly based on academic research by Roger Wattenhofer, an established computer science professor at ETH Zurich and an advisor to the project. Through its concentrated liquidity offering, the platform restructures the traditional multi-fee level structure seen in other DEXes and offers adaptable liquidity pools, which enable liquidity providers to successfully optimise capital deployment and maximise returns in the long-run. In essence, Veax has taken proven concepts from the traditional finance market and optimised them for the world of DeFi.
The Veax team is excited to showcase the full capabilities of the platform! Over the coming weeks, the project will ready itself to launch its mainnet and significantly upgrade the experience of trading digital assets on NEAR, as the DEX offers a trustless solution between the world of traditional and decentralised finance.
The Veax testnet launches Tuesday, January 31st, 2023, and early users will be able to test out various functions and capabilities of the platform. We can’t wait to try it out ourselves!
About Veax
Veax is an advanced single-sided liquidity management DEX built natively on the NEAR blockchain with pioneering TradFi-empowered features. The platform is developed by Tacans Labs and has raised $1.2m in pre-seed funding from prominent investors including Circle Ventures, Proximity Labs, Outlier Ventures and more. The leadership team includes award-winning entrepreneur, Mathias Lundoe Nielsen, and industry veterans, James Davies, Ivan Ivaschenko, and Marie Tatibouet.
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About NEAR Protocol
NEAR is a dynamically sharded Proof-of-Stake, carbon-neutral blockchain built for usability and scalability. NEAR combines the power of both PoS and sharding in a technology called Nightshade, making the chain infinitely scalable without compromising security and decentralisation.
Veax Launches Public Testnet of Advanced DEX Built on NEAR was originally published in NEAR Protocol on Medium, where people are continuing the conversation by highlighting and responding to this story.