Thai Forward raises $5M seed round led by Primestreet Capital global VC fund
Summary
In addition, we always take it very seriously in terms of legal issues, accounting standards, and the safety of the investors assets, he added.Forward Co-Founder and Advisor Udomsak Rakwongwan said they aim to develop Forward to be a One Stop Service protocol, solving limitation and pain points in DeFi economy.It will be a secure and easy-to-use platform where users can earn sustainable investment returns. This means that the return generated to investors is a result of a solid and sustainable business model that was carefully designed for long-term operation,Our user-friendly interface will reduce the barrier to onboard new users to the blockchain space. For every single line of our coding, smart contract technical auditing is required and it will be performed by at least 2 trusted auditors, he added.PrimeStreet Capital Co-Founder and Partner Supavat Nam Cholvanich said with their finance background, they have a good interest in financial-related blockchain technology.Digital asset is a high volatility landscape, and we highly emphasize the importance of safety and sustainability of the protocol. Our team focus deeply on the tightness of all operating logic and, at the same time, look for a platform with meaningful enhanced features that has the potential to stand out and elevate DeFi ecosystem,We believe Forward is well set up and its DeFi platform should easily navigate through market volatility and grow sustainably in the digital asset world, he added.Forward is a digital asset and blockchain startup, founded by a group of developers and tech researchers. The founders prior success was the launch of a well-known regulated crypto exchange in Thailand.Forward is currently developing a newly invented protocol for decentralized derivative trading, where short and long positions are matched against each other using an advanced protocol named Automated Position Hedger (APH).Forward DDEX acts as a counterparty to instantly match users long and short perpetual Futures orders.As a result, Forward does not have limit order books and does not require market makers.