NiiFi, Ethereum-based DEX, raises $3m in seed round led by DARMA Capital

The decentralized exchange NiiFi, built on the Ethereum Layer 2 solution Nahmii 2.0, has raised $3 million. The seed round was led by DARMA Capital, a fund launched by former ConsenSys employees.

🙌💥We couldn’t be more grateful for the army of support from our awesome investors, our (well-oversubscribed) $3M seed round was led by @DARMACapital @AndrewDARMACAP with participation from @a195capital @au21capital (1/2) pic.twitter.com/CDQ4EKh44a

— NiiFi (@NiiFiDAO) May 11, 2021

The round also saw participation from A195 Capital, AU21 Capital, Blocksync Ventures, Lotus Capital, Matterblock, Moonwhale Ventures, Protocol Ventures and Three M Capital.

The features of NiiFi DEX will include instant finalization of settlements, appealing to institutional investors, and the integration of AML/KYC procedures.

“We are betting on Nahmii 2.0. One of the key metrics in blockchain is finalization. Its instantaneous nature in the solution will enable countless commercial use cases”, said Andrew Kis, founder of DARMA Capital.

“We built the system from scratch. Its foundation rests on our own developments that could, in the future, receive patent protection”, stated by the developers.

In February 2021, the developers of the Ethereum Layer 2 solution Matic Network conducted a rebranding, changing the name to Polygon.

In March, the Optimism project pushed back the launch of its mainnet, reportedly to July.

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