Momentum, one of the fastest-growing decentralized exchanges on the Sui blockchain, has announced the acquisition of a new strategic funding of $100 million. This capital will facilitate further development and strengthening of its position in the DeFi ecosystem.
Funding and Support
The funding round was led by OKX Ventures along with participation from other notable investors such as Coinbase Ventures and KuCoin Ventures. These investments highlight Momentum's recognition as a leading DEX on Sui and the strategy of supporting promising blockchain technology projects.
Successes of Momentum
Since its launch, Momentum has achieved impressive results: $3 billion in swap volume, $69 million in Total Value Locked (TVL), and over 420,000 users within just two months. These achievements are backed by solid technical execution and high user adoption metrics.
Innovations and Future Prospects
Momentum is implementing an innovative DEX model with ve(3,3) tokenomics aimed at incentivizing liquidity and enhancing user rewards. Co-founder and lead engineer ChefWEN noted that Sui's architecture sets new standards for DeFi infrastructure by offering rapid transaction finality and scalable performance.
Momentum continues to expand its horizons in decentralized finance, supported by technical advancements and strategic investments. The company's success may significantly influence the development of the Sui ecosystem and the entire DeFi sector.
