Decentralized Crypto Exchange Kaddex Completes Second Token Sale For $8M Total Raise

Decentralized exchange Kaddex has closed a second sale completing a total of $8 million raised pre-launch.

Kaddex offers the first DEX built upon Kadena, the first truly scalable Proof-of-Work (PoW) layer-1 blockchain network. Through the power of Kadena’s braided chain framework, Kaddex can deliver gas-free liquidity pooling and a secure, straightforward trading experience through its impressive user-friendly platform. Its DeFi technical advantages aside, Kaddex believes in establishing true democracy and community ownership of its ecosystem, implementing the first financially sustainable Liquidity Mining program. This allows the community to steer the development of the platform, achieving a collective vision, while also incentivising participation in certain pairs, and therefore improving the user’s overall experience.

According to the exchange, 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 itself, 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.

“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.” said Chief Product Officer, Nicolas Ramsrud.

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