Sifchain Raises $3.5 Million for World’s First Omni Chain DEX to Capture $450B+ Market Cap
Summary
SAN FRANCISCO, CA and CAYMAN ISLANDS / ACCESSWIRE / December 2, 2020 / Sifchain has closed a $3.5 million seed funding round for its omni chain DEX. Sifchain uses Thorchain as a reference implementation and uses pegged tokens to support cross-chain transactions across a wide array of blockchains. The Sifchain team has blockchain development veterans with experience building cross-chain software and other critical infrastructure at teams like Coinbase, Cosmos, Flow, Polkadot, Thorchain, and Cardano, Sifchain aims to be the leading cross-chain DEX with its quick execution, with the testnet launched in October. Sifchain is also aiming to be the first DEX to support both margin trading and limit orders on a decentralized exchange. For each of the target blockchains (for example, Stellar, Cardano, and Litecoin), a cross-chain bridge will be built, allowing users to use those cryptocurrency on Sifchain as well.