By Daniel Webster, dWeb.News Publisher
CHICAGO–(BUSINESS WIRE)–Domination Finance, a non-custodial, decentralized exchange for dominance pairs, announced the successful completion of a $3.2 million seed round involving top investors in the blockchain and cryptocurrency space. The new platform, which is now operational, allows users to trade Bitcoin Dominance, Ethereum Dominance, and Tether Dominance in a way not possible before. It aims to offer global users sufficient liquidity, low latency and high price accuracy.
Led by ParaFi Capital, an alternative investment firm focused on blockchain and decentralized finance markets, the funding round included such investors as Dragonfly Capital, AU21, Shima Capital, LD Capital, Huobi Ventures, OKEx BlockdreamVentures, KNS Group, GSR, CoinGecko and an impressive list of angel investors. Nick Chong, ParaFi Capital’s Investment Analyst, stated that most traders do not have direct access to the ‘dominances’ of Bitcoin and Ethereum. “Domination Finance solves the problem in a highly user friendly and efficient manner, and we’re thrilled to partner with them as DeFi-natives have permissionless access to dominance pair. The capital raised by DomFi will be used for expanding services on DomFi’s platform. This platform tracks the price and altcoins using CoinGecko data. Domination’s user-friendly interface, built on the Universal Market Access protocol, allows retail traders to analyze changes in coin prices and trade on the overall market dominance for Bitcoin, Ethereum, Tether.
The idea behind this project is simple: to meet a large demand from crypto traders, which was largely due to the lack of decentralized, smooth-functioning platforms such as the one we built. Adrian Kolody, co-founder of Domination Finance, said that Domination Finance is a key service to provide this popular trading functionality in a global market with a rapidly growing number potential users.
“Domination Finance feels honored to have such a distinguished group of backers,” stated Michal Cymbalisty (co-founder of Domination Finance). “These funds are industry leaders and have a proven track record of excellence. They were also among the first to invest in DeFi.” To trade, visit domination.finance.
About Domination Finance:
Domination Finance is the premier decentralized exchange for trading dominance pairs. Domination Finance is based on the Universal Market Access protocol. Its desktop and mobile interfaces make it easy for users to trade dominance pairs and receive trading fees. To learn more, visit info.domination.finance.
More dWeb.News Business News at https://dweb.news/news-sections/business-news/