Veax
The Future of Decentralized Finance.
| Date | Investors | Amount | Round |
|---|---|---|---|
* | $1.2m | Seed | |
| Total Funding | 000k | ||
| USD | 2023 |
|---|---|
| Revenues | 0000 |
| EBITDA | 0000 |
| Profit | 0000 |
| EV | 0000 |
| EV / revenue | 00.0x |
| EV / EBITDA | 00.0x |
| R&D budget | 0000 |
Source: Dealroom estimates
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Veax Labs, a Swiss-based blockchain company founded in 2022 by Mathias Lundoe Nielsen, operates a decentralized exchange (DEX) on the NEAR Protocol. The company aims to bridge the gap between traditional finance (TradFi) and decentralized finance (DeFi). In November 2022, Veax secured $1.2 million in a pre-seed funding round with participation from Circle Ventures, Outlier Ventures, and Seier Capital, among others. The founding team includes CEO Mathias Lundoe Nielsen, an entrepreneur who also founded Crypto Valley Exchange and DX25, and CPO James Davies, an industry veteran.
The Veax platform is an advanced, single-sided liquidity management DEX built to enhance capital efficiency for traders and liquidity providers. It operates as an Automated Market Maker (AMM) that is NEP-141 compliant and functions on the NEAR blockchain, a choice attributed to its scalability, security, and low transaction costs. The business model is centered on generating revenue through transaction fees on its trading platform. The platform targets both seasoned DeFi users and those transitioning from centralized finance systems.
Veax's core product is a DEX featuring a unique architecture that combines successful elements from other DEXs to address issues like fragmented liquidity. Key features include Concentrated Liquidity, which allows liquidity providers (LPs) to allocate capital within specific price ranges to maximize fee earnings. The platform also offers multiple fee levels, enabling LPs to align their earnings with their risk tolerance and ensuring optimal swap prices for traders. For a more familiar user experience, it presents liquidity in an order book-style interface and provides a dashboard for comprehensive liquidity management. Additionally, Veax is developing features for margin trading and derivatives.
Keywords: decentralized exchange, DEX, NEAR Protocol, DeFi, TradFi, liquidity management, concentrated liquidity, single-sided liquidity, automated market maker, AMM, blockchain finance, crypto trading, Mathias Lundoe Nielsen, James Davies, Veax Labs, Circle Ventures, Outlier Ventures, capital efficiency, crypto exchange, NEP-141