Parex, a community-driven DAO, has raised US$ 3 million from DWFLabs, a multi-stage Web3 investment company, and US$ 3.5 million from Bitgert Ventures.
Wilmington, Delaware--(Newsfile Corp. - May 12, 2023) - Parex has successfully developed a community-driven DAO ecosystem through its ParexChain, Parex Wallet, RaccoonSwap, Exchange, and other decentralized applications. The company has secured US$ 6.5 million in a new investment round. The funding was provided by DWF Labs that invested US$ 3 million, and Bitgert Ventures, the investment arm of the cryptocurrency exchange Bitgert which invested US$ 3.5 million.
Caption: Parex, a community-driven blockchain ecosystem, raises US$ 6.5 million from Bitgert Ventures and DWFLabs
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8552/165883_dbf57152d4236bf6_001full.jpg
The investment round was completed just as Parex was preparing its ParexChain infrastructure, which is designed to provide a fully community-driven DAO blockchain ecosystem. The funds will enable Parex's efforts to accelerate its efforts to create an efficient DeFi and DAO ecosystem. Part of the investment will be used to mine and support Parex mining.
Innovative blockchain solutions to reduce inflation
Liam Anthony, CEO of Parex, expressed his pride in DWFLabs and Bitgert Ventures, two significant investors who have faith in Parex's promising future. "As a company, Parex is committed to developing innovative blockchain solutions that prioritize community involvement and reduce inflation. With the support and expertise of top investors like DWFLabs and Bitgert Ventures, we are even stronger as we gear up for the launch of the PEP20 Mainnet," he said. "Soon, we will announce the testnet of the PEP-20 blockchain infrastructure, and launch a massive AIRDROP campaign."
Parex provides a Decentralized Autonomous Organization (DAO) ecosystem that includes a range of solutions such as a one-of-a-kind mining algorithm designed to eliminate inflation, an ecosystem token, blockchain infrastructure, decentralized applications, a crypto wallet, and a cryptocurrency exchange.
Contact: Liam Anthony, [email protected]
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/165883
