On September 11, 2020, CokeSwap announced that it had obtained strategic financing from internationally renowned investment institutions such as Paradigm, Robot Ventures Capital, Nascent, Ethereal, Figure, GoldenTree Asset Management, Hack VC, and HashKey Capital, amounting to 15 million US dollars, official news showed.
According to information, CokeSwap is an automatic market-making transaction agreement based on Coke public chain, which aims to promote the automatic exchange transaction between Coke and digital assets such as mainstream currency. Any individual user will freely deposit tokens for exchange and withdraw them freely. CokeSwap nodes will receive stable node rewards under all economic conditions with transaction fees and seigniorage. CokeSwap aims to build a highly decentralized financial infrastructure.
DeFi boom has occurred one after another this year. Decentralization is the first essence of DEX according to the CokeSwap team. Traditional exchanges are often characterized by centralization. On the one hand, they act as information intermediaries to solve the problem of information asymmetry to a certain extent, transmit transaction information, match transaction objects and promote transaction realization; On the other hand, it is possible to monopolize and manipulate transactions by using its information collection position to create new information asymmetry that is beneficial to the platform and even damage the legitimate interests of customers. For centralized exchanges, no matter what the market situation is, they can rely on currency fees and handling fees to protect their income.
CokeSwap team holds that the era has arrived with the maturity of technology, especially blockchain technology, and the application of decentralized exchanges. As a new mode of exchange operation, the decentralized exchange makes full use of the decentralized characteristics of blockchain technology to construct a point-to-point trust mechanism to realize point-to-point transactions without intermediate links and middlemen. All trading links are uplinked, and all trading operations are directly executed by open-source intelligent contracts. Users completely control their funds, that is, as long as they master the private key, they will not worry about property security, which solves the problems of user asset security and human intervention.
Specifically, CokeSwap has three core components, namely, a brand-new blockchain transaction underlying platform, a new generation transaction agreement, and a cross-chain decentralized exchange. The system design covers the complete architecture of the main technical and business logic of decentralization in five aspects: "Asset Security, Market Flow, Transaction Fairness, Ecological Openness, and Transaction Experience".
Paradigm, Robot Ventures Capital, and so on are internationally renowned investment institutions, which we can often find in the blockchain field in recent years that they have successfully invested in many blockchain projects, such as, Instagram, Skype, Twitter, dYdX, compound, makerdao, Uniswap, CoinList, Cyclos and so on in the blockchain field. This investment for CokeSwap is not only optimistic about the future development prospects of decentralized exchanges but also an affirmation of CokeSwap.
As early as 2013, Mr. Ryan R · Fox noticed the development prospect of decentralized exchanges. After BTS bit stocks faded, he revived to prepare for CokeSwap decentralized exchange and then received support from XLAB Foundation. Now, he received 15 million US dollars of investment from Paradigm, Robot Ventures Capital, Nascent, Ethereal, Figure, GoldenTree Asset Management, Hack VC, HashKey Capital, and so on, which will provide strong financial support for the development of CokeSwap.
CokeSwap is in development and has started the global developer co-creation plan at present. Let's look forward to CokeSwap, an amazing masterpiece.
