Hybrid DEX/CEX exchange Cryptocurrencies.AI raised $8 million, leveraging Binance’s liquidity

Alameda Research’s latest investment aims to build some tricky bridges between decentralized and centralized systems.

This morning, Cryptocurrencies.AI (‘CCAI’) announced that it had raised $8 million, led by Alameda Research, DFG, Rarestone Capital and six other funds.The salary increase will be used to help enhance the exchange’s efforts to provide user experience Privileges and functions usually lacking in decentralized communication.

Among the touted features are built-in tools for automated trading and robotics, as well as notes, calendars, and performance tracking-assuming all of these are available to users of exchanges such as Uniswap, but only through third-party add-ons, and Cannot be used through third-party add-ons. The machine is built into the interface.

CCAI founder Hisham Khan said in a press release this morning that putting these tools and exchanges under the same umbrella will enable traders from all walks of life to gain more utility and efficiency.

From traditional financial institutions to Gen Z retail traders, digital assets and Bitcoin have brought tremendous changes to the lives of people of various demographics. However, since both the native and novice cryptocurrencies are forced to use a variety of different tools to optimize their trading strategies, the industry often accepts frustratingly bad user experiences and fragmentation. We are changing this situation by concentrating everything in one place. “

In addition, the exchange also has a centralized/decentralized hybrid model that uses integration with Binance to provide traders with additional liquidity and UX options.

Khan said in an interview with Cointelegraph: “Binance integration helps to improve liquidity, and then we provide our own innovative functions on top of it through the exchange.” “It is the only tool in the industry that provides such innovative tools to automate. , Enabling traders to access these risk management settings.”

However, hybrid models do require trade-offs.It’s a bit disgusting as I just announced recently Institutional Loan Pool, Users will have to comply with KYC/AML requirements-the long-awaited “CeDeFi” development, some observers have warned that this may “eliminate” the theoretically disallowed DeFi movement.

Khan pointed out that although users will need KYC to access the platform’s liquidity gains, “DEX currently does not own KYC/AML” and “it is completely decentralized.”