DeFi Project KingSwap Raises $20 Million in Funding and Liquidity Support
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DeFi Project KingSwap Raises $20 Million in Funding and Liquidity Support

October 31, 2020      Jafrin Ahmed

KingSwap, a fully regulated DeFi project, has announced raising over $20 million in funding and liquidity support. The DeFi project also went live today on Uniswap.

$20 Million Funding Exceeded KingSwap 1000 ETH Soft Cap

Numerous crypto VC Firms and investors participated in the funding round such as Plutus VC, Hashstreet VC, Alpha Sigma Capital, Tradecraft Capital, and 7CC. The firms helped towards exceeding KingSwap’s 1000 ETH soft cap while raising USD 20 million in funding and liquidity support. The DeFi project also sold out 4 mints of its exclusive ‘Knight Token’ NFTs that allowed owners to access the upcoming $KING airdrops.

KingSwap is a Singapore-based regulated DeFi project that introduces a liquidity pool platform with fiat conversions. The platform’s high yield-liquidity platform provides staking rewards and digital collectibles. Supposed to be an evolved version of Uniswap, KingSwap provides features with real-time benefits in terms of price curves and contributor rewards.

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KingSwap was initially founded by a team of notable industry veterans including Dr. Anish Mohammed, who has advised and worked for HSBC, Lloyds, and Zurich, and was an early advisor to Ripple and Ocean Protocol.

Also, Dunstan Teo, the Chief Architect of at Fido Protocol and President of Sanctum Pte Ltd. Lastly, Ho Chin Shin, who previously worked as a director at Standard Chartered Bank; Nomura, Japan’s largest investment bank; and the Bank of Singapore.

New Members Added to Its Advisory Board

Also, it has added three new members to its advisory board including Dr. Christian Rio, Chief Executive Officer at Green Candle X Capital, Venture Capitalist Dr. Giampaolo Parigi, and Professor Alex Nascimento, Faculty and Co-Founder, Blockchain at UCLA.

Other well-known globally recognized crypto pioneers have also joined KingSwap’s advisory board such as Michael Terpin, Lioenl Iruk, Esq, Dr. Robert Choi, and more.

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KingSwap’s advisor Michael Terpin says that KingSwap is a breath of fresh air,  with scams becoming too common in the DeFi space.

“The project has a well-known technical team and audited smart contracts, and I see KingSwap becoming a leading DEX soon.”

#$20 million funding #DeFi #KingSwap #liquidity support #Singapore #Uniswap
Jafrin Ahmed
Jafrin Ahmed

Jafrin is a cryptocurrency journalist/researcher fascinated by the world of decentralization. She is hopeful towards blockchain’s innovation and its potential to reshape the world for good. Being a HODLer she takes a keen interest in following the volatile Bitcoin charts. Currently, she is bringing out the best of cryptosphere via covering the latest ins and outs of the blockchain space.