Today, we're delighted to announce that Coin98 Ventures has joined a $1 million seed round in FMX, a cryptocurrency derivatives trading platform that aims to simplify and gamify futures trading. The seed round was led by Kyros Ventures, the investment branch of Coin68 Media.
FMX represents an essential next step in the natural evolution of the crypto sphere, one that will make futures trading more accessible and financially attractive to millions of users across Asia. The investment aligns with our desire to support Asian Solana developers, as shown by the recently launched $5M Solana Ecosystem Fund.
The platform delivers an awe-inspiring end-customer experience and creative gamification, making futures trading simple for both experienced crypto-veterans and novices. Furthermore, FMX takes advantage of deep liquidity and up-to-date trading pairs from FTX, vital for loyal users' loyalty to a trading platform. The FMX team gathers dedicated builders who lead top-tier trading communities in Vietnam and genuinely listen to traders' minds; therefore, everything created by the team is tailor suited for Asian users.
FMT is the native utility token of FMX that will be issued on Solana, a web-scale, Layer 1 blockchain capable of handling up to 50,000 transactions per second (TPS). In addition to speed, network-wide transaction costs are extremely low, usually around $0.00001, making it easy to onboard new users and facilitate high-speed exchanges without exorbitant gas fees or additional overhead.
Including Coin98 Ventures' support in funding, advisory, marketing, and community support, we believe FMX will be a spearhead towards mass adoption of the playing field. Solana blockchain will undoubtedly be adopted more extensively in Asia, one of the most vibrant spots worldwide since the early days of crypto.
“Solana is a renowned ecosystem that has made a breakthrough over the past year. With the same vision of our recently launched $5M Solana ecosystem fund, we have decided to participate in funding for FMX. I believe that with the advantages of the community, the principles of a platform made by the community and for the community, FMX will be a striking name of the cryptocurrency futures trading sector in Asia.” - said Thanh Le, founder of Coin98 Finance.
FMX is a new cryptocurrency derivatives trading platform that aims to solve the current shortcomings of existing trading platforms by simplifying and gamifying the trading experience of crypto futures to encourage mass adoption. FMX’s mission is to make futures trading easy and accessible to everyone, promising success to all who participate in its platform. FMX has its utility token called FMT, which offers holders exclusive rights and can be used for staking and volume mining.
For more information, please visit https://fmx.trade.
About Coin98 Ventures
Coin98 Ventures is the investment arm of Coin98 Finance, aiming to invest in the construction of DeFi protocols and applications on Ethereum, Solana, Polkadot, Binance Smart Chain, and other L1 blockchains. Besides financial assistance, promising early-stage projects are provided with Coin98 ecosystem’s resources, industry connections, and extensive support accumulated over the years to build empowering products for a free and wealthy life.
For more information, please visit https://coin98.ventures.