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Framework, Coinbase, and other star capital lead the investment! DEX.AG completes seed round fundraising and rebrands as "Slingshot".

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Framework, Coinbase, and other star capital lead the investment! DEX.AG completes seed round fundraising and rebrands as "Slingshot".

The decentralized exchange (DEX) aggregator platform DEX.AG has secured funding in a seed round from capital backers such as Framework Ventures, Coinbase Ventures, Robot Ventures, etc., raising a total of $3.1 million and rebranding to Slingshot.

DEX Aggregator Platform DEX.AG

DEX.AG was created in 2018 by the open community Concourse, which focuses on developing blockchain-related projects. The team behind DeFi data platform DeFi Pulse also comes from this community. As a decentralized aggregator platform, DEX.AG aims to help users with trading needs to complete transactions with the most favorable token exchange prices from various decentralized trading platforms on Ethereum. According to official sources, the platform has facilitated over $100 million in trading volume to date.

Currently, there are many similar solutions on the Ethereum chain, such as 1inch, ParaSwap, 0x's Matcha, and even the well-known Ethereum wallet provider MetaMask has launched such services. Clinton Bembry, CEO of Slingshot, stated:

"The open and permissionless nature of DeFi brings continuous platform evolution to the market, presenting a new financial service model that unifies a diverse global community and allows them to participate in emerging economies or create their own without seeking permission."

Star-Studded Institutional Investment

The platform recently completed a $3.1 million seed round of financing and officially rebranded as "Slingshot."

Notably, the investors behind this round of financing are reputable entities in the field. According to Coindesk, the funding round was led by Framework Ventures, with other participants including Electric Capital, IDEO CoLab, Coinbase Ventures, Winklevoss Capital, Digital Currency Group, and Robot Ventures, founded by Compound's founders.

Vance Spencer, Co-founder of Framework Ventures, stated in the press release:

"Slingshot's top-tier DEX aggregator efficiently provides DeFi users with the seamless user experience, low latency, and cost-effective transactions they deserve."

With the support and recognition from such prominent institutional investors, the future development of Slingshot is highly anticipated.