DeFi platform SMARDEX completes $4.5 million seed round financing

PANews December 11th news, according to Globenewswire, DeFi platform SMARDEX announced the completion of a $4.5 million seed round of financing. The financing was conducted through the public sale of subtoken USDN for protocol governance. It was also disclosed that RA2 TECH had previously invested $12 million in SMARDEX’s development. In addition, SMARDEX announced the launch of synthetic dollar token USDN, accompanied by the Delta Neutral strategy, which ensures that those who short ETH by minting USDN always maintain a balance with those who long ETH on the SMARDEX platform. This is controlled by a smart contract to ensure that the positions always have equal weight. According to the introduction, SmarDex is a Decentralizationexchange (DEX), which uses innovative AMM (AMM) Algorithm to solve Impermanent Loss, and may convert it into impermanent gains. SmarDex operates across multiple Block chain networks, including Ethereum, BSC, Polygon, Arbitrum, and Base.