Binance Labs Joins in the Seed Funding Round of ApolloX, Crypto DEX
Binance Labs Joins in the Seed Funding Round of ApolloX, Crypto DEX – Binance Labs is the venture capital and incubator arm of Binance. Today, it announced that it has invested in ApolloX. ApolloX is one of the top 10 decentralized Exchanges on CoinMarketCap.
This round of funding included industry players like Kronos Research and Lingfeng Capital. Token Pocket, 3Commas and LUX Capital all participated.
Binance Labs Joins in the Seed Funding Round of ApolloX, Crypto DEX
ApolloX is now able to grow its product lines with the help of the newly secured fund. ApolloX will expand the trading service and create new product lines like spot trading, predict to earn, and DEX as-a-Service. ApolloX will also shift to DAO self governance.
ApolloX believes that the decentralized autonomous organisation (DAO) structure will promote the adoption of crypto assets and user-centric Blockchain technology worldwide. ApolloX DAO will use industry-standard solutions for decentralized governance and transparent and trustless decision making by the community to support platform development.
ApolloX has shown steady growth since its launch in September 2021. In May 2022, the cumulative trading volume reached $158.87 million. ApolloX is a simple yet powerful decentralized trading platform. ApolloX’s passion and understanding of the industry drives them to create features that will improve the experience for everyone involved in cryptocurrency and blockchain.
Key Takeaways
- Binance Labs was part of the ApolloX seed funding round, along with Kronos Research and Lingfeng Capital.
- ApolloX plans to create new product lines and shift to DAO self governance.