Global decentralized finance platform FWX developed an innovative protocol for derivative trading that matches long and short positions without a limit order book or reliance on market makers. FWX received an investment from Blizzard the Avalanche Fund to help launch the new protocol on FWX Finance in the second quarter of 2023.
Chanon Jaratsuttikul, Co-Founder and CEO of FWX said,
We are excited to share that FWX has received investment from Blizzard, an Avalanche-focused venture capital fund. This investment will allow us to accelerate the development and growth of our platform, bringing new and innovative solutions to the crypto and DeFi industry. We are thrilled to be part of the Avalanche ecosystem, and we plan to leverage Avalanche’s fast transactions and high scalability to provide a seamless user experience. We look forward to collaborating with Blizzard and other partners to unlock the potential of the Avalanche platform, and to bring FWX to users around the world.
Blizzard’s Kasper Jao said,
FWX’s innovative protocol suite provides opportunity to expand access to DeFi in the burgeoning Southeast Asian market.
Blizzard Fund is a New York-based venture capital fund managed by AVA Labs that targets cryptocurrency industries. Blizzard Fund is dedicated to accelerating development and growth across the ecosystem of Avalanche and beyond, with over $200M in funding.
FWX Decentralized Finance (DeFi) is a Global DeFi platform that’s developing a protocol for decentralized derivative trading called Automated Position Hedger (APH) which matches long or short positions with no need to rely on a middleman or market maker. Two main services synergize to distribute rewards from real demand and create a sustainable ecosystem platform.