Defi trading platform Prepo grabs $ 2.1 million in strategic round

Defi trading platform Prepo grabs $ 2.1 million in strategic round

The decentralized protocol Prepo announced on Wednesday that there was a strategic financing round of $ 2.1 million under the direction of Republic Capital and iOSG ventures before the upcoming start of the trading platform in the second quarter

In a press release that was shared with block works, Prepo said that it would use the financing to strengthen his efforts to "democratize" previous investments. The new financing complements the previous start-up capital of the protocol of $ 1.1 million in July 2021.

The platform, which is not yet live, is intended to offer small investors to speculate on the evaluation of pre-IPO companies or pre-token projects. The first version of the platform is expected to be introduced shortly after your token launch in the coming months on the Ethereum scaling solution.

"We currently live in a society of financial exclusion", says the protocol Online documentation . "All investors miss opportunities because there are only limited places on a cap table."

The group took part in the round via Mexc, Ascendex, GCR, Shima Capital, Caballeros Capital, Dexterity Capital, Honeydao, Neptunedao; There were also founders of Gnosis, 1inch, Moonbeam, Zapper, Gelato.

"We are incredibly grateful to have such a top-class group of supporters," said prepo founder Xavier Ekkel. "Your industry expertise, your deep networks, your financing and long -term support will be invaluable to accelerate Prepo's growth."

The protocol consists of three main actors with their own responsibilities, including dealers, liquidity providers and "pre-rings"-those who vote on DOA suggestions about changes to the protocol.

The use of Prepo would give private investors access to possibilities that risk capital providers, institutional investors and private equity companies have "only enjoyed for decades", says the protocol in its publication.

Investors can also use the platform to secure its commitment in pre -interconnecting assets in your portfolio or to receive transparent and current market prices, the protocol added.

"The groundbreaking design of Prepo ensures that there is sufficient liquidity for speculation and that liquidity providers are risky and adequately rewarded," said Ray Xiao, Principal at iOSG Ventures.

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The Post-Defi trading platform Prepo NABS $ 2.1 million in the strategic round is not a financial advice.