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Business EconomyPosted at: Nov 19 2021 11:11PM


DegenSwap raises USD 3 million through an Initial launch on DynamicSwap

Mumbai, Nov 19 (UNI)Single-click, cross-chain aggregator umbrella DegenSwap on Friday said that it has raised USD3 million through an Initial launch on DynamicSwap, which sent its token soaring by 4200 percent, clocking a massive 42 times gain for participating investors.
Backed by high-profile investors including Michael Terpin of BitAngels and notable venture capital groups like Moonwhale, Draper Venture Network, MeXC, Interstellar Digital, Maven Ventures, Mantra DAO, the platform is designed to bring to users the best prices across all other market aggregators.
The initial platform launch will include Binance Coin (BNB) and Ethereum (ETH) and will provide one-click interoperability between the two separate blockchains. Positioned as an umbrella aggregator, the platform solves a major barrier currently affecting the cryptocurrency market by providing 100 percent reimbursement on gas fees.
“We saw an issue when testing aggregators across the cryptocurrency space where the prices were different even though all aggregators claim to have the lowest price. Further, it is evident that gas fees and complicated cross-chain processes limit the trading and deter new users to the decentralized world. So to solve this, we designed DegenSwap to not only display the best price among all aggregators but also to reimburse users for their gas and fee costs, which is a game-changer for crypto," Atom Foundation CEO, Yoda (Jude) Regev, said.

The DegenSwap platform includes a native token, DEGEN, which is available at the moment on DynamicSwap and will soon be added on Uniswap, Sushiswap, and PancakeSwap; the group also has executed agreements with centralized exchanges like MeXC and more. The native token has grown 10X since launch and 42X from the private sale, as the public sale is still running. Cryptocurrency projects also have the ability to easily create a license-free, one-click clone of the DegenSwap platform. The projects can even charge their own fees and transaction taxes and leverage the fee-reimbursement technology without any development.
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Tags: #DegenSwap raises USD 3 million through an Initial launch on DynamicSwap
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