deFIRE is a low-latency smart order routing engine with plans to implement defi on the Cardano ecosystem. The startup has just raised $5 million dollars which will be used to expand infrastructure, add employees, and scale operations by increasing platform capacity.
The appetite for defi has been insatiable, with traders eating increasing fees on Ethereum for the right to have full control of their decentralized trading. deFIRE, incubated by Occam.fi and driven by Changelly, is going to offer users token swaps, order routing across DEXs and providing vertical support between order flows and execution venues.
deFIRE’s vision has been well received, with the latest $5 million in capital headed by Morningstar, SwissBorg Ventures, Lotus Capital, MoonWahle, Hype Partners, Axia8 Ventures, Newtribe Capital, GenBlock, Sheesha Finance, IBA, Exnetwork, Nodeseeds, and CoinsGroup.
Institution-Friendly Trading
“To accommodate most seamlessly the order flow aimed towards the Cardano-defi ecosystem it is crucial to offer optimal, trustless order execution,” explained Mark Berger, President of Occam Association. “We embrace this challenge by merging a rockstar tech team that has built its name in the Cardano ecosystem and the wide business network, other resources of Changelly to build the first optimal execution infrastructure for Cardano.
Eric Benz, Changelly, CEO added: “deFire leverages DLT and a contemporary market architecture to revolutionize the high-performance trading landscape by significantly and transparently enhancing order execution quality for institutions and individuals alike. Working alongside I am sure we will bring a lot of value and liquidity to the Cardano ecosystem.”
Cardano Starts to Bloom
There is palpable excitement growing in crypto circles around Cardano now that smart contracts have been implemented on its chain. Early projects like deFIRE are proof of this.
deFire’s IDO is set to be hosted on the OccamRazer platform on May 21. Users can gain CED rewards by staking at least 150 OCC tokens by May 14.
Following the Initial DEX Offering, deFIRE will move towards decentralizing the governance of its defi ecosystem, introducing deFIRE DAO. The governance token will allow users who stake their tokens the power to introduce and vote on proposals to improve the protocol.
deFIRE is the first Cardano protocol of its kind, offering a low latency decentralized order router that will be at the heart of the network’s onchain trading. Promising to connect to the deepest pools of onchain liquidity and build its native pool, deFire’s debut will be eagerly awaited by the Cardano community.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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