ArthSwap announces successful completion of fundraising from OKX Blockdream Ventures
ArthSwap announced today that it has raised a seed round of funding from OKX Blockdream Ventures.
ArthSwap is a one-stop defi built on top of Astar Network — the leading para-chain and layer1 solution on Polkadot.
There’s been a lot of buzzes even before the service was released.
The community surpassed 100,000 members within a week of the SNS release. Within a week of the service’s release, the community reached 200,000 members, and the TVL reached nearly 120 million.
This seed round of funding was supported by Next web Capital, a leading fund in Astar ecosystem, and two strong investors in Polkadot ecosystem.
“Arthswap is a Astar-native, super-agile and fast growing team. It is such an opportunity for us to support multi-chain defi project on Astar like Arthswap. Arthswap would become to fundamental infrastructure in Web3 world, growing with Astar Network.” Sota Watanabe, Next Web Capital Founder
The funds raised will be used to increase commitment to the Astar Network and Astar community and ecosystem, and to accelerate development.
“ We have witnessed $1.5 trillion transactions made by DeFi in the 1st Quater of 2022, accounting for 50% of Visa’s throughput. The distinct numbers of addresses interacting with at least one DeFi protocol have hit more than 200 million, all of us are now embracing a bright future of DeFi.
The DEX built by Arthswap now ranking №1 TVL on Polkadot & Astar Network, acts as the pivotal part of DeFi on Astar network. Thanks to the competitive scalability that Polkadot and Astar offer, Arthswap focuses on trade, with a more friendly UX and tribe of the community. We are expecting to see more new records created by Arthswap. ”
— — Dora， Founder of OKX Blockdream Ventures
We, ArthSwap, will continue to contribute to the expansion of Astar ecosystem and empowerment of the community to realize Huge TVL and increase Astar’s valuation.
About Next Web Capital
Next Web Capital is a global blockchain and Web3 accelerator enables founders across the ecosystem. With founding team of Astar Network and Japan’s most renowned blockchain incubator Fracton Ventures, we offer unique full-range support to startups through fundraising, forming token economics, technology guidance, marketing and community management.
About OKX Blockdream Ventures
OKX Blockdream Ventures is an investment institution under the worldwide top trading platform OKX.com, which focuses on exploring the best blockchain projects on a global scale, supporting the most cutting-edge blockchain technology innovation, promoting the healthy development of the global blockchain industry, and focusing on long-term structural value investment.
The initial capital of OKX Blockdream Ventures is USD 100 million. We are committed to helping the ideal entrepreneurs who contribute to the development of the blockchain industry to build great companies and bring global resources and historical experience to blockchain projects.
What is ArthSwap?
ArthSwap is a one-stop Defi protocol aiming to become a leading DEX on Astar Network.
Its main functions are going to be swapping, staking, liquidity mining, and we will have more functions on the way!
We focus on growth in the Astar Network ecosystem and are willing to optimize all the elements for Astar, so we consider ourselves as an “Astar-native” dApp. ArthSwap to Astar is what Trader Joe is to Avalanche, what Quickswap is to Polygon, and what Uniswap is to Ethereum!
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