Chainfir Capital Announces Investment in Algodex

As the native DEX of the Algorand ecosystem, Algodex currently faces less competition compared with other counterparts built on different public chains.

Chainfir Capital believes that with the accelerated development of the Algorand ecosystem, thanks to the financial support of the Algorand Foundation, the future development prospects of Algodex will be promising and sustainable. We are willing to help Algodex provide a fully decentralized exchange for the Algorand ecosystem.

What is Algodex?

Founded by Alexander Trefonas, Algodex is a highly decentralized exchange with the order book completely on the Algorand blockchain itself.

With Algodex’s order book model, a first for the Algorand ecosystem, users can now trade their assets via smart contract limit orders which allow for specific prices to be set.

Hightlights

1. Multi-language support

The exchange plans on supporting all major languages (24 languages as of the press time), and will facilitate trading globally on its platform.

2. Safe funds

The users' funds, including open orders, are held in external wallets and escrow accounts owned by the users. The exchange operators do not possess technical access to any users' funds, which gives users security and confidence in their transactions.

3. Market and limit orders available

Algodex uses limit orders to conduct its trades and has 4-8 second trading times and full decentralization. Algodex is one of the most decentralized limit order exchanges in existence.

4. All Algorand Standard Assets (ASAs)

Algodex automatically allows trading for any ASAs, including newly issued ones.

5. NFT marketplace

Purchase and trade Non-Fungible Tokens (NFTs) directly within Algodex (this feature coming soon).

6. Financial Support from Algorand Foundation

Algodex receives Algorand Foundation Grant to build DEX for the Algorand Network, according to Algodex' s announcement in August, 2021.

About Chainfir Capital

Chainfir Capital, founded in 2018, is a blockchain-focused venture capital institution. Currently, hundreds of millions of dollars of special investment funds have been exclusively established in a bid to invest in DeFi, NFT, Polkadot, Web3.0, and other blockchain sectors. To date, Chainfir Capital has successively invested in a dozen of outstanding Blockchain projects including Casper, Splinterlands, AnKRey X, Juggernaut, Mimir Quiz, with more to come.

We're looking for great projects with teams of 10 or more, over a year old, and over 10,000 Twitter followers. If your project is very excellent but fails to meet this standard, we'd also like to give ear to your business plan and give you honest advice.

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Disclaimer:

Chainfir Capital reminds you: the information pushed or expressed in this article is for reference only, which does not constitute any investment advice to anyone, and we do not bear any responsibility for the actual investment results.