KingSwap Raises $20 Million to Improve DeFi Platform

KingSwap, a self-described “fully regulated DeFi project based out of Singapore that is introducing a liquidity pool platform with fiat conversions. KingSwap’s high-yield liquidity platform offers extensive staking rewards and digital collectibles,” has raised $20 million in funding and liquidity, according to a press release from the group.

This project’s token will go live on Uniswap this Saturday. The money was brought in by investors and venture capital, including but not limited to “Plutus VC, Hashstreet VC, Alpha Sigma Capital, Tradecraft Capital, and 7CC,” the release continues.

KingSwap describes itself as a “high-yield liquidity platform offers extensive staking rewards and digital collectibles. Its highly anticipated DeFi DEX boasts unique features including fiat conversions, and a legal structure that addresses major shortfalls within the DeFi space.”

Speaking on the matter is Michael Terpin, the advisor of KingSwap, who said:

“With scams becoming all too common in the DeFi space, KingSwap is a breath of fresh air. The project has a well-known technical team and audited smart contracts, and I see KingSwap becoming a leading DEX in the near future.”

Also sharing some thoughts is Malcolm Tan, the advisor of KingSwap:

“At KingSwap, we’re committed to doing DeFi the right way by putting user experience at the forefront and operating as a fully regulated project. Early support for the project shows we are helping to fill a gap in the current DEX marketplace. We’re eager to introduce KingSwap to many more fans through our Uniswap launch.”