Mangata Finance’s Polkadot-based Efficient, MEV-Free DEX Coming June 6th

Mangata Finance, the Polkadot-based DEX, is all set for launch on June 6th. Recently, it had a successful crowdloan that was closed in just under an hour that secured it a slot on Polkadot’s innovation network Kusama. Over $2 million in value was bonded through the crowdloan, a process of staking Polkadot (DOT) tokens to support a specific project in the Polkadot Slot Auction, in return for which participants receive rewards from the projects. The project also raised $4.2 million in equity, which came shortly after the launch of its first blockchain on the Kusama network, which raised the Polkadot startup’s valuation to $60 million. New investors including Signum Capital, IVC, Figment, ZMT Capital, AngelDAO, and Paribu Ventures joined the returning investors Altonomy, Polychain, and TRGC in this strategic round. “Altonomy believes in Mangata’s efforts around connecting major blockchains, improving security for traders, and helping reduce fees by eliminating gas from the equation, which is why we returned for a second round of funding,” said Altonomy Director Ricky Li. Olaf Carlson-Wee, the founder and CEO of investment firm Polychain Capital, was actually the first one to fund Mangata’s vision of efficient DEXes without MEV. Leveraging Polkadot Interoperability The Slovakia-based Mangata is both a blockchain and DEX that will be connected as a parachain in the Polkadot ecosystem. By choosing Polka...