Dexalot is a Unique Blockchain Exchange that has Just Raised $7 Million in Funds

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The Dexalot Exchange will see a new kind of DEX for active traders following a $7 million funding round

The fact that Dexalot is decentralized is a big deal in a sea of tens of centralized exchanges

Being decentralized means that all activities and transactions are conducted over the blockchain with the deployment of smart contracts

Satoshi’s original dream of decentralization, where no intermediary such as banks or brokers would retain custody over users’ funds or information, has veered far from this principle.  It is the blockchain that automates, verifies and authenticates activities, making them tamper proof.

That’s why a truly decentralized exchange, with a Central Limit Order Book (CLOB), like Dexalot’s, has enjoyed a successful debut and has achieved an ambitious fundraising round. The round was led by Avalanche’s Blizzard Fund. Dexalot itself sits on the Avalanche network, an EVM protocol which is compatible with smart contract development, it brings scalability to dApps like Dexalot, while promising security, competitive fees and fast transaction speeds.

While other projects focus on the AMM (Automated Market Maker) model, Dexalot is based on a classic CLOB system, much in the same way as centralized exchanges and trading platforms use. This promises closer price execution and more minimal slippage for traders than the AMM approach.

Dexalot also brings a new product to the market, known as Dexalot Discovery, which merges the CLOB with an auction system that enables users to participate in bidding for tokens through seed, private, IDO and public fundraising rounds. The way the system works ensures that traders can compete with bots in terms of speed of execution on trades, due to limited slippage. The process is transparent and both buyers and sellers are fairly matched.

From Testnet to Mainnet

The DEX was launched on testnet in mid 2021 and has since executed over 250,000 positions across over 12,000 unique wallets. All of the community members on the exchange are responsible for exchange governance, giving members democracy from the get-go.

In addition to Blizzard, a variety of Avalanche ecosystem participants and investors also joined the fundraising round. These include Avalaunch, Colony, Benqi, AVentures, and Avascan. Other partners who joined are Republic Capital, GSR, Muhabbit Capital, Woodstock Capital, Maven Capital, and IPC.

Dexalot’s system allows traders to implement limit orders as takers, with the order instantly matched, or partially filled as maker orders.

Comments on The Fundraising Round

According to the CEO of Dexalot,

“We’re very excited to receive support from everywhere across the Avalanche ecosystem. Dexalot wants to create a truly transparent, community-owned crypto exchange where users can trade assets at the capital efficiency of central exchanges with the same or better user experience.”

Director of the Avalanche Foundation Emin Gün Sirer siad, “Dexalot is pioneering a new generation of decentralized exchanges, enabling users to trade any asset with low fees, zero slippage, and efficient price discovery. Most chains lack the capacity and velocity to maintain an on-chain order book, forcing users to settle for poor trade execution. Dexalot capitalizes on Avalanche’s speed to deliver a peerless user experience”.


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