Raze Network Kicks Off Initial DEX Offering on Bounce, Poolz and DuckStarter
$RAZE is designed as a utility token to represent participation and accelerate growth in the Raze Network ecosystem
Raze Network, a Substrate-based cross-chain privacy protocol for the Polkadot ecosystem, is set to launch its Initial DEX Offering (IDO). Starting today, on April 12, the public fundraising will take place on Bounce, Poolz, and DuckStarter, followed by a public distribution sale on Balancer Liquidity Bootstrapping Pool.
The upcoming IDO caps off a private sale round that was participated by prominent blockchain and crypto VC firms such as Master Ventures, X21 Digital, AU21 Capital, Spark Digital Capital, Signum Capital, AngelONE, Kyros Ventures, MarketAcross, Arpa Labs, Lotus Capital, Tenzor Capital, and Block Dream Fund.
Raze Network is one of the projects looking to provide a privacy-preserving infrastructure for Dapps built on Polkadot. In total, the company has raised $2.2 million in its seed and private funding rounds.
The triple IDO comes as Raze Network is pursuing even larger ambitions beyond its original aim of building a cross-chain privacy middleware for DeFi and Web3.0. Leveraging the Polkadot ecosystem, the protocol-based solution is reconstructing the privacy layer for the current crypto sphere, something worth keeping tabs on.
The platform is also a cross-chain solution, which can bring a high degree of privacy and data access patterns to other ecosystems such as Ethereum and help users interact with DeFi applications without exiting their original interface.
Ultimately, this can lead to more secure crypto transactions, trading, mining, as well as removing trusted intermediaries from relevant swaps across all substrate-based blockchains.
More use cases would be added
While the privacy narrative got lost somewhere among all these functions, Raze Network is working in that regard on the Polkadot ecosystem. Most recently, it developed a cross-chain private payment protocol to provide DeFi users with both safe and private financial transactions.
Raze Network has also unveiled a ‘Secret DeFi Bridge,’ which allows users to run their confidential data in an isolated and private environment. This covers their trading history, mining of RAZE tokens, as well as access to liquidity pools.
$RAZE is designed as a utility token to represent participation and accelerate growth in the Raze Network ecosystem. With the launch now imminent, Raze Network could soon expand to multiple initiatives in order to solidify its position in targeted markets. The company’s recent developments and partnerships have been getting rave reviews from industry publications.
More use cases would be added to and unveiled on the network as it grows to serve the whole Polkadot ecosystem. While the broader world of blockchain is still struggling to prove relevant technologies are more than hype, Raze Network plans to eventually expand its model to real-world applications and general internet users.
Disclaimer: The information presented here does not constitute investment advice or an offer to invest. The statements, views, and opinions expressed in this article are solely those of the author/company and do not represent those of Bitcoinist. We strongly advise our readers to DYOR before investing in any cryptocurrency, blockchain project, or ICO, particularly those that guarantee profits. Furthermore, Bitcoinist does not guarantee or imply that the cryptocurrencies or projects published are legal in any specific reader’s location. It is the reader’s responsibility to know the laws regarding cryptocurrencies and ICOs in his or her country.
OhNoCryptocurrency via https://www.ohnocrypto.com/ @Bitcoinist, @Khareem Sudlow