DECENTRALIZED CRYPTO ETF EXCHANGE DURAFI RAISES PRE-SEED ROUND

Durafi, the world’s first fully decentralized exchange, today announced the close of its pre-seed round.

NEW YORK, UNITED STATES, January 19, 2022 /EINPresswire.com/ -- Durafi, the world’s first fully decentralized exchange designed specifically for the trading of ETF-style cryptocurrency index derivatives, today announced the close of its pre-seed round. Republic Capital, Quantstamp, Palm Drive Capital, Panony, BTSE, and other strategic investors participated in the round.

Durafi makes managing diversified crypto market exposure easy, secure, and cost-effective for the modern asset allocator. Its new class of tradable crypto currency indices called “Durafi Fund Tokens” (DFTs), track the performance of baskets of cryptocurrencies, such as the Durafi Crypto Index, Durafi Defi Index, and Durafi NFT Index.

“We hear it every day, investors increasingly want to gain exposure to the overall crypto market. Most, however, remain on the sidelines because they have challenges selecting individual tokens or finding reliable ways to achieve diversified market exposure on trusted platforms. Durafi is solving this problem, and as such will increase cryptocurrency market participation by those who want to invest in the overall trends,” stated Seamon Chan, Managing Partner at Palm Drive Capital.

DFTs allow investors to go long or short crypto trends more easily, removing the need to try and pick individual winners, while also dramatically reducing the cost and complexity of achieving diversified portfolio exposure. Buying a single diversified DFT index can replace the dozens of traditionally required transactions needed to achieve portfolio diversification. DFTs are designed to deliver many of the advantages that Exchange-Traded Funds (ETFs) brought to traditional financial markets, however they surpass ETFs, taking full advantage of decentralized finance - including the ability to offer decentralized custody, decentralized, democratized sourcing of liquidity providers, and community-based selection for future Durafi indices to be launched.

“It’s abundantly clear that the modern asset allocator, from family offices to pension funds, needs to have rigorously diversified exposure into the cryptocurrency industry with none of the belabored hassle of current DeFi infrastructure and token-picking trading platforms,” states Alex Ye, Managing Director at Republic Crypto.

“We believe it should be simple and low cost for any trader to go long or short the entire crypto market or specific sub-sectors in the same way that ETFs and index futures revolutionized traditional financial markets. Moreover, we’re leveraging DeFi to empower communities to direct the platform’s development,” commented Vincent Fernando, Co-founder of Durafi.

DFTs are more cost-efficient than investing into and out of traditional crypto funds due to the way that Durafi’s decentralized exchange has been designed to trade DFTs and invest long or short entire indices with or without leverage. Furthermore, part of Durafi’s pre-seed funding will be utilized in the development of Durafi’s Hybrid Orderbook & AMM, which will provide investors with liquidity across a range of tradable instruments.

“Durafi leverages our team's expertise in building advanced financial technologies across global markets to create innovation in the blockchain ecosystem. We believe our platform will level the playing field, democratizing access so that everyone can benefit from cutting-edge investment tools and trading strategies that traditionally only the most elite institutions used to enjoy.” concludes Steven Hung, Founder of Durafi.

Durafi’s initial three indices, the Durafi Crypto Index (DCI), Durafi Defi Index (DDI), and Durafi NFT Index (DNFTI) are designed to represent the overall market performance of their constituents. More information and updates on Durafi’s development can be found at https://dura.fi.


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About Durafi
Durafi is the world’s first fully decentralized exchange designed specifically for the trading of cryptocurrency index derivatives. It enables traders to achieve efficient, diversified crypto exposure through Durafi Fund Tokens (DFTs), tradable indices for crypto and defi markets. Durafi’s core mission is to leverage decentralized finance to make professional trading instruments and strategies accessible to all. For more information, please visit www.dura.fi.

About Palm Drive Capital
Palm Drive Capital is a New York, Taipei, and Miami-based venture capital and growth equity fund that has invested in over 100 leading software and internet companies around the world. Since their launch in 2014, they’ve espoused the notion that innovators are everywhere. They also believe that the most successful founders are visionary and principled. Palm Drive Capital has a unique combination of strong Silicon Valley roots and New York financial discipline. In addition to its investments on the West Coast, Palm Drive Capital has a presence in emerging US tech centers including the Northeast, the Midwest, and the South. With backing from top entrepreneurs and institutions, Palm Drive Capital also has an expansive and differentiated network that spans across North America, Europe, South America and Asia. For more information, please visit www.palmdrive.vc.

About Quantstamp
Quantstamp is a trusted leader in blockchain security and delivers end-to-end blockchain solutions for the world's largest enterprises. Its mission is to secure the decentralized internet, and has protected over $100B in digital asset risk from hackers. More than 200 startups, foundations and enterprises work with Quantstamp to keep their innovative products safe. More information can be found at https://quantstamp.com/.

About Republic
Republic is a leading alternative investment platform open to all investors. Republic has deployed over $500 million in investments in 500+ companies across one million users in 100 countries. Republic is backed by both strategic capital partners and traditional venture capital firms including Galaxy Digital, Binance and Passport Capital. Founded in 2016, Republic is based in New York City and has 150+ employees. Republic has its own profit-sharing token, the Republic Note. For additional information, visit http://republic.co.

About Republic Crypto
Republic Crypto offers an end-to-end solution that sharpens, polishes, and promotes its clients. With a veteran track record of advising and collaborating with the powerhouse projects we know today, like Polkadot, Solana, Avalanche, and more, Republic Crypto has cemented its role as an ecosystem builder with a high-conviction, hand-selected approach. As part of R/Crypto’s mission, the team commits to an exclusive batch of companies per year that they believe will firmly cement and grow into their ever-evolving ecosystem, working alongside founding teams often for extended periods to encourage their continued success. Companies in Republic Crypto have raised private capital from top strategic and reputable VC firms.

Victoria Powell
REDHILL
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