Concordex, the first dedicated DEX built on the Concordium blockchain, has officially launched on mainnet. The platform aims to bring institutional-grade DeFi trading tools to the Concordium ecosystem. During its testnet phase, Concordex saw 867 users open 3,695 liquidity positions and complete 15,212 transactions.

Concordex raised $1.7 million in seed funding from Tacans Labs, Skynet Trading, Seier Capital, Amdax, and Concordium blockchain in December 2022. The platform offers a comprehensive suite of TradFi and DeFi trading tools, including regular swapping and advanced liquidity management features. Its liquidity pools provide concentrated liquidity and multiple fee levels to maximize returns for investors.

According to Lars Seier Christensen, founder of Concordium, the launch of the first DEX is an important milestone for the Concordium ecosystem. Mathias Lundoe Nielsen, CEO at Concordex Labs, stated that they are pioneering the development of regulation-friendly DeFi platforms by building on Concordium and removing barriers to entry in the institutional DeFi space.

James Davies, CPO at Concordex Labs, expressed excitement about unlocking the potential of DeFi in the Concordium ecosystem and being one of the first regulatory-ready DEXes in the market. He emphasized the platform’s robust suite of trading tools that will enable users to trade with ease while maximizing returns for liquidity providers.

Concordium is a permissionless Layer-1 blockchain ecosystem with an embedded identity verification layer that offers regulatory compliance and privacy. Concordex will leverage this regulatory-ready ecosystem to offer a regulation-friendly DeFi platform, paving the way for wider adoption of blockchain technology worldwide.

Concordex is an advanced institutional-grade liquidity management DEX built on the Concordium blockchain. The project was developed by DeFi venture studio Tacans Labs, with core team members including Mathias Lundoe, James Davies, Ivan Ivaschenko, and Marie Tatibouet. The platform is set to launch on Mainnet in Q3 2023.