HTX Ventures, the global investment division of cryptocurrency exchange HTX, has strategically invested in COREx, a decentralized exchange (DEX) that utilizes CoreDAO. COREx, a prominent product within the Core Ecosystem, is anticipated to revolutionize the domain in the era of decentralized finance (De-Fi) by integrating social networking and AI-driven tools.
Built on the Geth codebase, CoreDAO, originally referred to as BTCFi is an Ethereum Virtual Machine (EVM)-compatible Layer 1 public blockchain. Its main goal is to boost throughput while lowering costs via a stringent hard-fork approach.
This unique method seamlessly combines the strengths of Proof-of-Work (PoW) with Delegated Proof of Stake (DPoS) to deliver unrivaled scalability, security, and autonomy. Using CoreDAO’s infrastructure, COREx builds a marketplace that maximizes BTCFi’s potential.
COREx presents a dynamic ecosystem that supports trade and empowers communities through new technologies that improve the user experience and promote decentralized networks for value generation.
Among its many capabilities, COREx has an easy and customizable interface, allowing seamless onboarding for users from diverse backgrounds. Advanced transaction possibilities and complete community involvement capabilities enhance the user experience, ensuring active participation and interaction on the site.
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As a treat for its community, COREx is planning to introduce free-mint NFTs while it is still in the testnet phase.
Edward, managing partner of HTX Venture, underscored the critical strategic significance of COREx within the expanding Web3 architecture. According to him, their investment signifies their steadfast conviction in COREX’s ability to revolutionize user engagement on DEX platforms through the incorporation of social and AI-powered functionalities.
COREx distinguishes itself by offering innovative technologies that promote a more integrated and efficient community. These technologies are supported by a robust partnership network that will drive both its development and community expansion. This increases Web3’s appeal to new users and sets a long-term development path for De-Fi participants.
Daya, COREx’s co-founder and CTO, has over a decade of cryptocurrency experience and sees the company as a disruptor in the DeFi market. He stated that COREx is ready to transform the DeFi landscape, starting with a DeX platform and expanding to a full suite of tools.
The ecosystem will generate enormous value for all stakeholders, with benefits at each stage. He went on to say that COREx is agile and adaptable and that it is prepared to take on future problems with the help of its partners and community members in order to establish itself as the go-to place for all things related to DeFi.
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After a successful seed fundraising round led by CoreDAO Ecosystem and a public round that attracted strong interest, COREx is in a good position to speed up its tech development and revolutionize DEX trading.
HTX Ventures excels at identifying blockchain-related innovations and business concepts. In order to foster expansion within the blockchain ecosystem, initiatives are supplemented with financial backing, necessary resources, and appropriate direction. In collaboration with top global blockchain funds, HTX backs approximately 200 firms in several blockchain industries to expand the blockchain ecosystem.
