Market turmoil turns into opportunities for crypto derivatives trading platform! DEX Poutine Exchange raised $5M in the first round of funding, community creation kickoff, and soon implementation of a gamified swap farming model Trade-to-Earn
We are thrilled to announce that PoutineX has secured a seed funding of $5M. Shoutout to Pilgrim Crypto Venture and Polycoin Digital Fund for leading the way.
Allow us to re-introduce ourselves.
The Poutine Exchange (styled as PoutineX) is the first creation of PoutineX Laboratory.
The namesake of the laboratory, poutine, is a Canadian national dish that traces its origin to Quebec, Canada. The Lab, based in Montreal, previously built and operated a world-leading CEX boasting a trading volume of a trillion dollars, and received numerous awards.
The current project, Poutine Exchange, as confirmed by the founder of our Lab, Corsaire King, is a decentralized perpetual trading protocol with order-book model as the core, and has been developed by the team from scratch for more than two years. Its order-matching engine shows amazing powerful capabilities and a smooth and user-friendly trading experience comparable to that of a CEX. Other highlights include powerful stop-loss and take-profit features, which are very sought-after in the industry, different margin modes, one-click-reverse, one-click-close-all, and a staggering 125 times leverage that could be performed in a secure trading environment. Along with other advantages such as low slippage and great trading depth provided by several powerful market makers, the trading platform shows great promise as the future leading protocol in the industry.
The funding round was led by Pilgrim Crypto Ventures with participation from Polycoin Digital Fund, among other institutional and individual investors. Pilgrim Crypto Ventures is a crypto investment company that holds crypto-asset funds and investment license and registered in BVI, its main investment focus is innovation in the field of crypto-currency and blockchain.
Amid the uncertainties of current Crypto market, the timing seems auspicious to perpetual contracts tradings. PoutineX took the opportunity and made a low-key entrance into the game. It has been deployed on BSC during beta stage, and is now expanding to other major chains such as Ethereum, Arbitrum, Polygon, etc.
Our vision is to bring about disruptive changes in finance with application of blockchain and Web3 technology. We believe that Poutine Exchange will be a world-leading decentralized trading protocol for crypto derivatives.
As for the purpose of the funding, much of the $ 5 million are to optimize the products of decentralized perpetual contracts protocol Poutine Exchange and boost its operations. However, in the spotlight, there is also an innovative gamified swap farming model called Trade-to-Earn.
The trading protocol is under intensive development, and official version is expected to launch at the beginning of July. Excitingly, another innovation called Trade-to-Earn plus (T2E+) will be implemented at the same time. As a gamified swap farming protocol, it combines various benefits such as NFT pass, data farming, trading fee rebate, profit sharing, promotional commission, etc. Comparing to a simple swap farming model, X2E+ integrates the gaming characteristics of NFT and enhances the fun aspect of trading activities.
The PoutineX community is currently at its beginning stage. The community energetically hosts surveys and events, as well as a series of interesting NFT, POAP, and IDO whitelisting events. The team is eager to invite you to join the community on Discord: https://discord.com/invite/poutinex
This is the first funding round of PoutineX. We will establish the DAO and issue its governance token in the second half of 2022.
Here is the entrance of the beta version: https://beta.poutine.exchange/next
