Stackswap procures $ 1.3 million in financing round to build Dex in the Bitcoin network-press release
Stackswap procures $ 1.3 million in financing round to build Dex in the Bitcoin network-press release

press release
press release. Prague, Czech Republic, November 5, 2021, Stackswap, the first full Dex and launchpad in the Bitcoin network, has announced the end of his private round. According to the official press release, the blockchain platform was able to raise $ 1.3 million during the financing round.
The investment round was led by the Stacks Foundation together with important blockchain risk capitalists such as Hashkey, Genesis Block Ventures (GBV) and SOSV. The early investors share the long-term vision of Stackswap to finally become the largest Dex in the Bitcoin network.
The Stacks protocol, based on the stackswap, has attracted investments from renowned institutional investors such as Coinbase Ventures and Winklevoss Capital of over $ 93 million. It is based on a Bitcoin-based Layer 1 project that implemented a Smart Contract function on Bitcoin and the first token sale was approved by the US SEC.
Stackswap has published an explanation after the successful private financing round. "We are pleased that Stackswap can get in touch with a wider audience and institutions on our new trading platform. We have a competent global team of professional developers who have been researching for a long time and have gained extensive experience with the defi and related systems."
Stackswap An important milestone in the Bitcoin ecosystem
The successful private round is the first step in a number of developments that are planned for the coming weeks. Stackswap will introduce the first fully functional decentralized stock exchange (Dex) on the Bitcoin layer in November.
The Dex will use the stacks-mainnet, which acts like a layer 2 network and enables intelligent contract functions on Bitcoin. It uses Bitcoin's core functions and records transaction details in the Bitcoin network using its POX consensus mechanism.
Stackswap is also the first permissible dex to run on the Bitcoin layer by using the performance of the stack protocol. It supports the traditional functions of Dex such as token trading through swaps and liquidity mining. In addition, Stackswap has introduced extended functions such as the output of project tokens via its special launchpad, the creation of trade pools and token compensation programs through POXL mining.
users can use earnings in the Bitcoin blockchain by staging and depositing stacks (StX) via an unprecedented Bitcoin-based reward payment system. In addition, new projects and development teams can spend their tokens, create automated pools and easily perform POXL mining on the Stackswap launchpad platform.
This contributed to lowering the entry barrier for projects and made Stackswap a really decentralized and innovative blockchain protocol.
over stack 2.0
Stacks 2.0 is supported by POX. POX is a consensus salgorithm with two separate blockchains. It uses an already established blockchain (in this case Bitcoin) to secure a new blockchain (stacks).
POX connects with Bitcoin with a block ratio of 1: 1, which means that transactions on the stacks blockchain can be verified on the Bitcoin blockchain. Instead of burning electricity in the case of work verification, POX uses already shaped bitcoins as "evidence of the calculation" and the miners represent their costs for mining in bitcoins directly.
website: https://www.stackswap.org/home
Twitter: https://twitter.com/stackswap_btc
telegram: https://t.me/stackswap
medium: https://medium.com/@stackswap
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