Runes DEX Secures $2 Million in Seed Investment to Pioneer AMM on Bitcoin

By Chainwire

April 18, 2024 – Runes DEX, the trailblazing Automated Market Maker (AMM) platform for runes on Bitcoin, is thrilled to announce the successful closure of its US$2 million seed investment round. This crucial funding milestone has garnered support from prominent blockchain investors including Kenetic Capital, Mechanism Capital, Auros Ventures, Future Fund and Boosty Labs. Notable industry pioneers backing this round are Pascal Gauthier, CEO of Ledger; 0xMaki, founder of SushiSwap; and AOI, founder of AOI.com

As the first AMM of its kind, Runes DEX introduces a revolutionary market model to the Bitcoin network, merging finance with digital culture in unprecedented ways. This platform not only facilitates seamless rune trading but also pioneers the integration of meme-based tokens through its exclusive "Meme Casino" feature, further diversifying its unique offerings.

"Our vision at Runes DEX is to set the standard for liquidity and trading solutions on Bitcoin, leveraging the innate security and broad reach of the network," said King of Runes, CEO of Runes DEX. "Central to our mission is the creation of a community-focused ecosystem that not only simplifies trading but also democratizes access to financial tools for everyone, fostering a new era of participation in the blockchain space."

Jehan Chu, Founder of Kenetic Capital, emphasized the innovative aspects of the platform: "Runes Dex is poised to set an explosive pace for the entire ecosystem with their novel AMM and liquidity solutions, helping Runes revolutionize how Bitcoin is seen by the world."

Andrew Kang, Managing Partner at Mechanism Capital, also highlighted the strategic importance of the platform: "Runes is a gamechanger for Bitcoin, as it allows users to transact with much less friction than existing ordinals protocols like BRC20. It is difficult from here to see which assets will win, but just like with Uniswap on Ethereum, the first AMM on Runes, Runes Dex, will be at the epicenter of the action.”

“UX and liquidity are key success factors to focus on when working on scaling the broader BTC universe’, stated Ben Roth, CIO and founder of Auros Ventures. Roth added, “This is where platforms like Runes DEX and Auros as a liquidity partner have a pivotal role to play in enabling innovation and ensuring the long-term health of the ecosystem.”

Pascal Gautier, CEO & Chairman at Ledger, expressed his excitement over recent Bitcoin protocol developments: "Runes DEX is an exciting development happening in the Bitcoin DeFi ecosystem. I am personally really interested about the application layer built on top of L1 protocols and particularly on Bitcoin. You'll need to own your private keys to interact with L2s and the protocol application layer. If not self-custody, why crypto? More power to the user. More power to decentralization."

The seed funds will be strategically utilized to expand the technical infrastructure of Runes DEX, enhance user interface designs, and broaden market reach ahead of the much anticipated "420 Launch". This launch is designed to capitalize significantly on market opportunities from day one.

In preparation for the Token Generation Event, Runes DEX is excited to announce a public presale of its tokens. This presale will offer early supporters a chance to be part of Runes DEX's innovative journey. Details regarding the presale will be announced very shortly on Runes DEX's X account (https://twitter.com/RUNES_DEX).

The Token Generation Event is scheduled for April 20, 2024, which will coincide with the Bitcoin halving event. This significant date will also mark the anticipated launch of the runes protocol, aligning major milestones in the cryptocurrency landscape.

For further information, updates, and to join the Runes DEX journey, visit www.runesdex.com

About Runes DEX

Runes DEX emerges as a groundbreaking force, being the first automated market maker for runes on the Bitcoin blockchain. Through its unique platform, Runes DEX facilitates the launch and trade of meme-based tokens while providing innovative liquidity solutions and farming rewards to its users.

Contact:

King of Runes

Runes DEX

Email: king@runesdex.com

Website: www.runesdex.com

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