Posted 4/4/2024, 11:00:00 AM
Phoenix DEX Raises $20M to Make DeFi as Fast and Accessible as Centralized Exchanges
- Phoenix decentralized exchange raises $20M in Series A funding, led by Paradigm
- Launched in 2023, Phoenix is currently 5th largest DEX by trading volume
- Aims to offer DeFi accessibility with efficiency of centralized exchanges
- Cofounders have backgrounds in high-frequency trading, spotted issue in DeFi liquidity
- Building on Solana blockchain due to need for high throughput and low fees
