PANews December 11 reports that DeFi platform SMARDEX has announced the completion of a $4.5 million seed round financing. This financing was conducted through the public sale of its governance sub-token sUSDN. It also disclosed that RA2 TECH previously invested $12 million in the development of SMARDEX. In addition, SMARDEX announced the launch of the synthetic dollar token USDN, along with a Delta Neutral strategy. This strategy ensures that those shorting ETH by minting USDN are always balanced with those going long on ETH within the SMARDEX platform. This is controlled by smart contracts, ensuring that positions always have equal weight.
According to reports, SmarDex is a decentralized exchange (DEX) that utilizes an innovative automated market maker (AMM) algorithm to address impermanent loss and potentially convert it into impermanent gains. SmarDex operates across multiple blockchain networks, including Ethereum, BSC, Polygon, Arbitrum, and Base.
