UAE Emiswap DEX exchange raises 1.4 million USD in seed funding

EmiSwap ,the first community-governed decentralized exchange (DEX) to provide high rewards for liquidity providers (LPs), has successfuly raised $1.4 million US in seed funding for its $ESW token. Offering 100% compensation for Ethereum’s transaction fees, EmiSwap is a truly decentralized autonomous organization (DAO) that incorporates a variety of solutions for decentralized finance (DeFi), allowing users to benefit from every single transaction in a few easy steps. EmiSwap kicked off its private sale earlier this week to provide further opportunity for investors who couldn’t participate in the overbooked Seed round. 

Transaction fees for an Ethereum-based DEX can cost more than $20 for each trade due to the design of Ethereum’s network, and can fluctuate drastically depending on the level of congestion. Transaction fees have spiked so high that it has caused the market to question the viability of DEXs. To accommodate its community, EmiSwap has launched the first DEX to offer full compensation for Ethereum’s transaction fees along with key benefits, like high rewards for liquidity providers and distribution of non-fungible tokens (NFTs). There will be 1 Mythic, 11 Legendary, 40 Epic, 150 Rare, 300 Uncommon, and 500 Ordinary NFT cards ready to be allocated to participants that surpass specific milestones. 

Designed to provide high rewards for liquidity providers (LPs), EmiSwap offers, 100% Ethereum gas fee compensation for any activity (creating a pool, making a swap, or adding liquidity) in $ESW governance tokens, 30,000 $ESW for each 1 million DAI trading volume is distributed among LPs proportionally daily (which increases the basic reward for providing liquidity by two), Over 40,000 $ESW is allocated to LPs daily, 0.05% rewards from trading volume daily and vote on product developments and Limited-edition NFT cards will be allocated to LPs.

 "We followed a strategic thinking process, detailed analysis of blockchain values and fees, and a variety of methods and formulas to make our offering valuable and unique,” said Grigory Rybalchenko, founder and CEO at EmiSwap. “We created EmiSwap, not just for the sake of starting, but because we believe in its power. Today we rest assured that our product is unique and is ahead of the game.”