- AdaSwap closes $2.6 million funding round.
- iAngels, a female-led Venture Capital firm, led the round.
- The star of Wonder Woman — Gal Gadot, invests in the round.
One of Cardano’s first decentralized finance (DeFi) protocols — AdaSwap, just concludes a $2.6 million funding round. The round was backed by multiple VCs and angel investors.
A known participant is Warner Bros DC film star — Gal Gadot, the big screen’s Wonder Woman. iAngels — a female-led Venture Capital firm, led the funding round. Following suit is nine other leading VCs which include Coti, Pluto Digital, and Shima Capital.
To highlight, the AdaSwap DEX will give users the chance to swap Cardano native tokens (ADA) and stablecoins without leaning on centralized exchanges. Much like Uniswap, AdaSwap will facilitate similar features.
Another notable fact is that AdaSwap will go ‘hand-in-hand’ with AdaSwap’s many other protocols. Specifically, this includes the new NFT marketplace. The DEX will also host a range of other features such as DeFi offerings like staking and earning interest from high yield and long-term liquidity pools.
In addition, AdaSwap’s very own native token (ASW) will be facilitating multiple functions on the DEX. Also, this token can be freely swapped with other tokens on the DEX. More so, transactions involving ASW will be fee-free.
The leading investor iAngels, shares why they chose to invest in AdaSwap. In particular, they believe that DeFi will bring “financial freedom and democratization to the masses”. Likewise, the co-founder of AdaSwap — Itay Levy also shares their enthusiasm.
“This is one of our first and greatest accomplishments towards building a new financial ecosystem that will have a great impact on our world. The AdaSwap team is really excited to move forward with our project backed by the best investors from both technical and commercial backgrounds.”
Presently, the price of Cardano (ADA) is $0.9 with a total market capitalization of $29,358,195,999, according to CoinGecko. Perhaps we shall see it rising up over the next few weeks.
