Decentralized exchange (DEX) focused on social perpetual trading, ZKX unveiled that it raised $6.3 million in a seed round of funding, led by Flowdesk, GCR, and DeWhales, bringing its total funds raised to $7.6 million to date.
ZKX intends to utilize the recently acquired funds to expedite the growth of the ZKX Protocol. The company intends to roll out new features, encompassing social copy trade pools and enhanced cross-chain interoperability.
Established in 2021, ZKX represents a derivatives protocol built on Starknet and Ethereum, governed by a decentralized autonomous organization (DAO).
Its protocol utilizes appchains to achieve scalability and offer quick application programming interfaces (APIs), merging the efficiency of centralized exchanges with the self-custody and trust inherent in decentralized finance (DeFi). Its appchain utilizes Substrate and Starknet zero-knowledge rollup technology to allow for gasless trading, a unified order book, and enhanced transparency. Additionally, it employs Starknet‘s account abstraction to ensure secure fund custody and efficient margin management. Meanwhile, the Starkway Bridge facilitates swift deposits and withdrawals by transferring assets between Ethereum and Starknet.
ZKX provides two separate interfaces crafted to serve various trader types. One represents a gamified interface, OG Trade, designed for short-term traders, while the other, Pro Trade, is meant for experienced traders with complex order types as well as API integration.
ZKX Airdrops Its Token And Lists It On Major Crypto Exchanges
The ZKX token functions as the governance token for the platform, granting governance rights upon staking. Staking ZKX tokens enables holders to participate in governance decisions, receive protocol revenue in USDC, and gain essential benefits. The total token supply is capped at one hundred million tokens.
Recently, ZKX released an airdrop, distributing 33% of tokens to reward dedicated individuals and early adopters. Furthermore, the token was listed on major cryptocurrency exchanges, including KuCoin, Gate.io, and Bitget.
Eduard Jubany Tur, Founder at ZKX, commented on the token release, pointing out that 2 years ago, ZKX was initiated with the goal to facilitate greater access to DeFi and foster social interaction. He highlighted a notable achievement with the introduction of its token, emphasizing that it serves as a tool to recognize the valuable contributions of community members, users, and partners.
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