CoinEx $50M Ecosystem Development Fund Points First Investment as OneSwap

HONG KONG--(BUSINESS WIRE)--Jul 30, 2020--

CoinEx, a global and professional cryptocurrency exchange service provider, announced today the launch of a $50 million Ecosystem Development Fund to back visionary companies whose products and services will facilitate the development of CoinEx’s ecosystem.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200730005444/en/

(Graphic: Business Wire)

In addition to financial support, CoinEx will also provide professional advice about product design, technology development, brand building and promotion at the project’s early stage. CoinEx hopes that in this way, it can foster innovations and promote the stable development of the blockchain industry.

“Before any investment, our team will conduct a thorough and multi-dimensional assessment of the project to ensure its quality and potential,” said Haipo Yang, Founder and CEO of CoinEx. “Recently we have been focusing mainly on finding promising DeFi projects.”

Since the establishment of the Ecosystem Development Fund, the CoinEx team has conducted in-depth researches and analysis on dozens of DeFi projects worldwide. Finally, OneSwap successfully got the first investment from the Fund.

OneSwap is a fully decentralized exchange protocol on smart contract, with permission- free token listing and automated market making (AMM). Its official website has already been launched.

Users are able to establish liquidity pools without permission, and make markets through automated algorithms. It also supports liquidity mining and trade-driven mining simultaneously, providing both platform tokens and transaction fees as revenues.

In addition, in order to meet the diverse transaction needs of users, the traditional order book is also available on OneSwap. Users will not be forced to accept platform-set price transactions but place limit orders by themselves. This enables more flexibility to the trading.

OneSwap refines and upgrades the advantages of major platforms in the DeFi ecosystem such UniSwap, Curve, Balancer, and Kyber Network, and combines the product design based on users’ trading habits to create more powerful platform.

"CoinEx has always been optimistic about the future of decentralized exchanges, and OneSwap's innovative concept as a decentralized protocol has surprised me. This is also the main reason why CoinEx’s Ecosystem Development Fund chose to invest in this project. We have made this first step, and there will be more room for the cooperation between CoinEx and OneSwap in the future,” said Haipo.

About CoinEx

As a global and professional cryptocurrency exchange service provider, CoinEx was founded in December 2017 with Bitmain-led investment and has obtained a legal license in Estonia. It is a subsidiary brand of the ViaBTC Group, which owns the fifth largest BTC mining pool and is also the largest BCH mining pool in the world.

CoinEx supports spot, perpetual contract, and other derivatives trading. Its service reaches global users in nearly 100 countries/regions with various languages available, such as Chinese, English, Korean and Russian.

CONTACT: Jessica Zhang

CoinEx PR Department

KEYWORD: ASIA PACIFIC HONG KONG

INDUSTRY KEYWORD: FINANCE BANKING PROFESSIONAL SERVICES OTHER TECHNOLOGY TECHNOLOGY

SOURCE: CoinEx

Copyright Business Wire 2020.

PUB: 07/30/2020 06:21 AM/DISC: 07/30/2020 06:21 AM

Copyright Business Wire 2020.

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