LogX Raises $4 Million in Funding Round, Bringing Total Capital to $10.1 Million
LogX, a decentralized trading platform and on-chain consumer Super App, has recently secured $4 million in funding from new backers and angel investors. This brings their total capital raised to an impressive $10.1 million. The funding round included investments from top firms like Hashed Emergent, Cumberland VC, Saison Capital, Gate Labs, DWF Labs, Antler, Coinswitch Ventures, Wagmi Ventures, and Kairos Capital. Additionally, angel investors like Charles and Verity from Espresso Systems and Ryan Lee, CEO of Orderly Network, also participated in the round.
Decentralized exchanges (DEXs) have been gaining popularity, especially after the collapse of major centralized platforms during the crypto winter. DEXs operate autonomously using automated algorithms, allowing users to trade digital assets without the need for human intervention. LogX Founder Akshit Bordia expressed gratitude for the trust shown by their investors and users, stating that the raised capital will be used to expand their product line and introduce leveraged prediction markets across multiple blockchains.
Furthermore, LogX has achieved significant milestones, surpassing $20 billion in trading volume and onboarding over 1 million users within just ten months of its launch in July 2023. The platform plans to expand further by launching on the TON blockchain and targeting over 100 million users with its prediction market trading. LogX has also formed partnerships with various perpetual protocols and blockchain networks, positioning itself as a key player in the on-chain environment for speculating on token prices.
In conclusion, the success of LogX and the growing popularity of decentralized exchanges highlight the changing landscape of the financial market. Investors and users alike can benefit from the innovative features offered by platforms like LogX, which are reshaping the way digital assets are traded and managed. It is crucial for individuals to stay informed about these developments to make informed decisions regarding their investments and financial activities.