Decentralized finance (DeFi) project KingSwap has raised over $20 million in funding and liquidity support.
Based in Singapore, KingSwap is a fully regulated DeFi that is introducing a liquidity pool platform with fiat conversions. KingSwap’s high-yield liquidity platform offers extensive staking rewards and digital collectibles. Its highly anticipated DeFi DEX boasts unique features including fiat conversions, and a legal structure that addresses major shortfalls within the DeFi space. An evolution of Uniswap, KingSwap provides user-friendly features that provide real-time benefits in terms of price curves and contributor rewards. KingSwap’s NFTs give their owners loyalty rewards from $KING tokens issued. The project was launched on Uniswap on October 31, 2020.
Venture Capital firms and cryptocurrency investors participated in KingSwap’s private fundraising round, helping the project quickly exceed its 1000 ETH soft cap to raise over $20 million in funding and liquidity support. KingSwap’s backers include Plutus VC, Hashstreet VC, Alpha Sigma Capital, Tradecraft Capital, and 7CC. KingSwap also sold out 4 mints of its exclusive ‘Knight Token’ NFTs, which provide owners access to upcoming $KING airdrops.
“At KingSwap, we’re committed to doing DeFi the right way by putting user experience at the forefront and operating as a fully regulated project,” said Malcolm Tan, KingSwap advisor. “Early support for the project shows we are helping to fill a gap in the current DEX marketplace. We’re eager to introduce KingSwap to many more fans through our Uniswap launch.”
KingSwap also announced that the company has added three new members to its advisory board: Dr. Christian Rio, Chief Executive Officer at Green Candle X Capital, Venture Capitalist Dr. Giampaolo Parigi, and Professor Alex Nascimento, Faculty and Co-Founder, Blockchain at UCLA. These advisors join globally recognized cryptocurrency pioneers on KingSwap’s advisory board, including Michael Terpin, Lioenl Iruk, Esq., Dr. Robert Choi, and more.
“With scams becoming all too common in the DeFi space, KingSwap is a breath of fresh air,” said Michael Terpin, KingSwap advisor. “The project has a well-known technical team and audited smart contracts, and I see KingSwap becoming a leading DEX in the near future.”
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