ApeX Protocol has recently announced the close of its seed funding round pushed through by several global investors like Dragonfly Capital Partners, and others. The Protocol is a decentralized and non-custodial derivatives protocol that has been incubated by Davion Labs.
For the uninformed, Davion Labs is a blockchain-impact and crypto incubator that aims at addressing most of the challenges and market opportunities in the Web3 revolution. The first project, ApeX, of this company is a censorship-resistant and permissionless protocol that leverages the elastic automated market makers in order to facilitate the creation of severe and perpetual swap markets for token pairs.
ApeX Protocol Has Seen a Horde Of Investors Accelerating Its Development
One of the investors of ApeX Protocol, Dragonfly Capital Partners, is a cross-border investment firm that supports the most promising opportunities in the sector of DeFi and DEX. Other investors that led the funding round were Tiger Global, Jump Trading, Mirana Ventures, CyberX, M77, and Kronos went on to join the financing round emphasizing the value propositions that have been procured before ApeX to the current DeFi market.
Tom Schmidt, the general partner of Dragonfly has had a few wise words for Dragonfly. He stated that the story of DeFi is the tale of permissionless and global financial primitives offering major access to products and services- something that people in centralized companies won’t be able to provide. The approach of the ApeX Protocol is to simply provide perps for long-tail markets as well as producing deep liquidity for most of the main markets via its eAMM is the next chapter in this tale.
The seed funding through the global investors would help ApeX Protocol increase its marketing and development efforts. The protocol did successfully launch its beta version on the Arbitrum mainnet on the 28th of February, 2022.
