Veax Labs has officially launched the public testnet for its decentralized exchange (DEX) based on the NEAR Protocol. The platform aims to combine features from traditional finance with decentralized infrastructure to bring a fresh value proposition to the DEX market.
The Veax platform offers advanced liquidity management, adaptable exchange pools, margin and derivatives trading, and a seamless orderbook user experience. The company recently published an in-depth article covering its unique concentrated liquidity offering, which maximizes returns over time by increasing capital efficiency for liquidity providers.
Following the testnet launch, the Veax team will host live product walkthroughs on their YouTube channel and will launch a Rewards Program for early platform users. Users will be rewarded for using different features and providing feedback.
James Davies, Chief Product Officer at Veax Labs, highlighted the platform’s integration of traditional finance features and unique liquidity management. Mathias Lundoe Nielsen, Chief Executive Officer, emphasized the platform’s implementation of proven concepts from the traditional finance market to address issues in the DeFi market.
Veax was developed by Tacans Labs, the DeFi builder arm of Swiss-based Web3 venture builder and investor Tacans AG. The platform raised $1.2 million in pre-seed funding from prominent investors and is expected to launch its mainnet in March 2023.
About Veax, it is an advanced single-sided liquidity management DEX built on the NEAR blockchain. It has raised $1.2 million in pre-seed funding and is led by award-winning entrepreneur Mathias Lundoe Nielsen, along with industry veterans James Davies, Ivan Ivaschenko, and Marie Tatibouet.