Automated Market Maker SmarDex raises $4.5 million in public seed round financing

ChainCatcher news, the automated market maker SmarDex has raised $4.5 million in its Public Seed Round funding, and the platform has also received a total of $12 million in funding support from Swiss Web3 pioneer RA2 TECH.

It is reported that SmarDex will launch a synthetic dollar token USDN, which is supported by fully decentralized Ethereum perpetual contracts, ensuring that USDN is always pegged to the value of $1.

Additionally, the Web3 asset data platform RootData shows that SmarDex is an automated market maker (AMM) that addresses the issue of impermanent loss (IL) and, in some cases, converts it into impermanent gains (IG). It is an open-source smart contract that operates on decentralized software running on compatible Ethereum Virtual Machine blockchains (such as Ethereum, Binance Smart Chain, Avalanche, Polygon, etc.). These blockchains are data exchange protocols similar to the Bitcoin blockchain, allowing for the storage and transmission of information in a public, immutable, and decentralized manner. By using SMARDEX, users can exchange decentralized ERC20 tokens, which are digital assets.