$2.4M Funded to ULTRADE as the New Wave of DeFi-as-a-Service Infrastructure Emerges
Disclaimer: The text below is a press release that is not part of Cryptonews.com editorial content.
ULTRADE aims to disrupt the dominance of CEXes with its DeFi-as-a-Service infrastructure. The whitelabel model offers a full featured DeFi trading ecosystem so that brands, projects and communities can instantly launch their own DeFi services to generate and capture trading fees from their audience in an owned experience.
$2.4M Seed Round Investment
On September 7, ULTRADE announced it had received $2.4M seed funding from VCs in the Web3 space to further the development of its platform. Investors include Algorand Foundation, Big Brain Holdings, Tess Ventures, Sarson Funds, Valhalla Capital, Stealth Capital and more.
“Over the years, Tess Ventures has invested in numerous prominent blockchain/crypto companies. ULTRADE’s superior execution stands out. Their Testnet has had a speedy and successful start – I’m confident that Goldman’s vision and leadership will make mainnet a hit.” Tess Hau, Founder of Tess Ventures
ULTRADE’s white label program enables brands, projects, and communities to offer their audiences a vast array of trading functionalities and keep the majority of trading fees. By whitelabeling the Ultimate Trading Suite, other brands, and even influencers, can launch a full-featured DeFi platform in minutes, not months, and start earning immediately. Secondly, they get to tap into the power of the ULTRADE ecosystem and provide their users with established liquidity from day one. Furthermore, they can leverage ULTRADE’s tech and earn up to 90% of all fees, with no coding, servers, or upfront costs.
These benefits are not limited to one asset class either. ULTRADE supports all asset types, including token pairs, leveraged perpetuals, synthetic assets, FOREX, stocks, lending markets, etc. Additionally, all transactions on ULTRADE are on-chain, allowing you to run your app with a basic web server and relax knowing the rest is handled 100% on-chain. These developments attracted the attention of prominent Web3 VCs.
“We are excited to back ULTRADE on their journey to providing Web3 businesses with powerful new DeFi infrastructure,” said AlgoBigBrain of Big Brain Holdings. “The ability to launch your own branded exchanges and trading services in a few minutes, with a liquidity network, and keep the lion’s share of trading fees is a game-changer.”
Built By Crypto Veterans
The company’s CEO, Dan Goldman, has been a blockchain/crypto veteran since 2012. He founded ULTRADE to make decentralized finance more accessible and trustworthy by removing the complexities of traditional exchanges while delivering robust tools that make sense for seasoned professionals. ULTRADE is more of a hybrid exchange platform, offering the best of DeFi trading and CEX with its scalable DeFi-as-a-Service tech, under a white-label model that enables launching a full DeFi platform in minutes, without development costs.
Built on the Algorand blockchain, the early product has been live on Testnet since June and has already attracted a thriving community of eager traders. As of early September, 2022, the ULTRADE team had received overwhelming user engagement with over 190,000 orders and trades and 1,600 suggestions submitted via their feedback and suggestions tool on Testnet. This feedback is in response to the Ultimate Trading Suite’s functionality updates, which have made DeFi trading easier for everyone.
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