Titan’s team believes that healthy competition is essential to drive innovation and improve services for the broader DeFi community.
CAYMAN ISLANDS AND TORONTO, ON / ACCESSWIRE / September 12, 2024 / Titan, an emerging DEX aggregator on Solana, today announced it has raised more than $3 million in pre-seed funding.
The fundraise totaled $3.5 million and was led by Round13 Digital Asset Fund, with participation from the family office RN Financial Corporation and a number of angel investors.
The funds raised will be used to continue development work on Titan, build out the team across multiple business lines including engineering, marketing, and business development; and also to fund a platform launch later this year.
"This funding round shows that Titan is gaining traction in both the digital and traditional asset world," said Chris Chung, CEO at Titan. "We believe Titan will vastly improve upon incumbent offerings and are excited to launch soon."
Titan's entry into the Solana ecosystem is marked by an ambition to build a superior alternative to the current market leader, Jupiter, which has established itself as the leading DEX aggregator on Solana facilitating over $1 billion in basic swaps daily and amassing a large user base of over 2.5 million unique addresses.
However, Titan's team believes that healthy competition is essential to drive innovation and improve services for the broader DeFi community.
"Titan represents a bold new chapter for the team that has already demonstrated their ability to innovate and lead in asset management and high-frequency trading," said Khaled Verjee, Managing Partner at Round 13 Digital Asset Fund. "The founding team is well-positioned to challenge the status quo and set new benchmarks in the DEX aggregation space on Solana."
Titan is emerging from stealth mode with plans to launch its beta in the coming weeks, which will mark a significant milestone for the company as it begins to engage with users and gather valuable feedback to refine its offering. The backing Titan has already secured from a group of early-stage investors shows that the market shares a similar vision for the future of DeFi on Solana.
To learn more about Titan and sign up for early access to the private beta, visit: https://titandex.io/
About Titan
Titan is a next-generation DEX aggregator built on the Solana blockchain, founded by a team of seasoned engineers with experience building investment and analytics products in the DeFi and Equity space. With a focus on optimizing liquidity, enhancing user experience, and ensuring security, Titan aims to become the premier platform for decentralized trading on Solana and has shown through preliminary testing that it outperforms competitors 81% of the time. The company is backed by early-stage investors and is set to launch its beta version in September.
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SOURCE: Titan