Concordex Set To Launch Its Regulatory-Ready DEX Built On Concordium On June 26th

Press release
June 22, 2023

Concordex, the pioneering decentralized exchange (DEX) developed on the Concordium blockchain, has announced the upcoming launch of its mainnet, set to take place on Monday, June 26th. Following a successful public testnet launch last month, the team is eager to transition to this exciting new phase, launching the first DEX for the Concordium ecosystem.

Concordex will enrich the Concordium ecosystem by offering a range of features including straightforward trading, concentrated liquidity, and flexible fee levels for liquidity providers. This allows them to enhance capital deployment and increase returns generated over time. The platform, backed by a series of seasoned industry leaders professionals, is set to bridge the gap between TradFi and DeFi, offering genuine on-chain derivatives and other institutional-grade tools.

"We couldn't be more excited about the impending mainnet launch on June 26th. This marks a substantial milestone for Concordex and the entire Concordium ecosystem as we are kickstarting DeFi on Concordium. By capitalizing on the regulatory-ready infrastructure of Concordium, we are pioneering the development of regulation-friendly DeFi platforms while bringing liquidity and a robust set of DeFi trading tools to the ecosystem," said Mathias Lundoe Nielsen, Chief Executive Officer at Concordex Labs.

“As Concordex’s strategic partner, Amdax is excited to see the team’s hard work come to fruition. Pairing the Tacans Labs’ innovative vision and technical know-how with the regulatory-ready Concordium blockchain poises Concordex to be the first true DEX to usher institutions into the cryptocurrency markets.” - Marcel Burger, Chief Investment Officer at Amdax.

The project initially raised $1.7 million in seed funding from Tacans Labs, Skynet Trading, Seier Capital, Amdax, and Concordium blockchain in December 2022, with the aim of offering institutional-grade DeFi trading tools within the Concordium blockchain ecosystem.

Built on Concordium, a public-layer 1 blockchain with a distinctive embedded identity verification layer, Concordex provides a secure and compliant trading platform for users and enterprises globally. The platform harmoniously balances privacy, a prized attribute within the crypto community, with regulatory compliance. Concordex stands as one of the first regulation-friendly DeFi platforms, signifying a substantial stride in the DeFi evolution.

About Concordex

Concordex is an advanced institutional-grade liquidity management DEX built on the Concordium blockchain. The project was developed by DeFi venture builder Tacans Labs, with core team members including award-winning entrepreneur Mathias Lundoe, and industry veterans James Davies and Ivan Ivaschenko. The platform is set to launch its Mainnet on June 26, 2023.

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About Tacans

Co-founded by Danish entrepreneurs Lars Seier Christensen, founder of Saxo Bank and Concordium blockchain, and Mathias Lundoe Nielsen, an award-winning serial entrepreneur with multiple tech ventures, Tacans Labs is the DeFi arm of Tacans, a web3 venture builder invested in the future economy of blockchain by building, funding, and acquiring cutting-edge Web3 companies. Started in 2021, the group's portfolio comprises seven Web3 companies across multiple sectors.

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