DX25 Labs, the DeFi builder arm of Tacans AG, has announced the launch of its public testnet for its new decentralized exchange (DEX) built on the MultiversX blockchain ecosystem. The platform offers a comprehensive suite of DeFi tools aimed at both individual and institutional traders in the MultiversX ecosystem.
After raising $750k in seed funding in March 2023, DX25 has officially launched its public testnet, which will allow users to try out some of the features that the platform offers.
The company aims to bridge the gap between traditional finance (TradFi) and decentralized finance (DeFi) with its suite of products tailored to both novice and professional traders in the MultiversX ecosystem.
Chief Product Officer of DX25 Labs, James Davies, stated, “We’ve set out to build a powerful new trading platform for the MultiversX ecosystem that offers a robust set of features without overcomplicating the overall user experience.”
DX25 was developed by Tacans Labs with a team of over 40 staff dedicated to developing and marketing the platform. The public testnet will offer users the ability to try out some of its features such as swapping and the creation of liquidity pools that make use of its concentrated liquidity and multiple fee levels.
In addition to the launch of its public testnet, DX25 has announced a rewards program aimed at incentivizing early users of the platform.
The company has allocated a total of $100,000 worth of $DX25 tokens for its rewards program, which will require users to actively use and promote the platform.
DX25 is set to launch a comprehensive suite of trading features throughout the course of 2023 and beyond. The platform aims to provide a user-friendly and powerful trading experience for traders in the MultiversX ecosystem.