[Press Release – Singapore, Singapore, 10th May, 2021]
Multi-chain decentralized exchange Dfyn will launch an initial DEX offering (IDO) on the Polkastarter platform today.
Dfyn’s defi protocol, which recently closed a $2.4 million funding round that garnered investment from the likes of CMS Holdings, QCP Capital, and Signum, is preparing to raise another $305,000 via the IDO.
The IDO gets underway on Polkastarter at 1pm UTC, and only contributions in ether (ETH) will be accepted.
Approximately 700 slots are reserved for the POLS community with 300 provisioned for the Dfyn non-POLS community. Only whitelisted addresses are eligible to participate, with over 70,000 users having already applied for around 1,200 whitelisting berths.
Participants are encouraged to be on the website at least half an hour before the first-come, first-served sale commences. The whitelist has been split into 3 sections — Dfyn1, Dfyn2, and Dfyn3 – though all pools have the same maximum allocation of $300.
Dfyn started life last year, with the launch of a beta AMM exchange on layer-2 network Polygon. Later this year, the platform aims to enable seamless cross-collateralization and borrowing across blockchain networks with nodes having already been incorporated on chains such as Binance Smart Chain (BSC), Polkadot, Avalanche, and Solana.
Dfyn is committed to establishing a thriving multi-chain ecosystem that includes a trustless decentralized exchange (DEX) coupled with an ultra-fast gasless automated market maker (AMM) which is optimized for the multi-blockchain universe. By building a thriving multi-chain ecosystem by plugging into Router Protocol’s liquidity supermesh, its mission is to onboard the next wave of crypto users into the defi world.