Community-Driven Blockchain Platform Parex Raises US$ 6․5 Million

Community-Driven Blockchain Platform Parex Raises US$ 6․5 Million

PRESS RELEASE. Parex has successfully developed a community-driven DAO ecosystem through its ParexChain, Parex Wallet, RaccoonSwap, Exchange, and other decentralized applications. The company has secured US$ 6.5 million in a new investment round. The funding was provided by DWF Labs that invested US$ 3 million, and Bitgert Ventures, the investment arm of the cryptocurrency exchange Bitgert which invested US$ 3.5 million.

The investment round was completed just as Parex was preparing its ParexChain infrastructure, which is designed to provide a fully community-driven DAO blockchain ecosystem. The funds will enable Parex’s efforts to accelerate its efforts to create an efficient DeFi and DAO ecosystem. Part of the investment will be used to mine and support Parex mining.

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