DNA Fund Boosts Development of PACT SWAP, a Next-Generation Cross-Chain Decentralized Exchange
Cross-Chain DEX PACT SWAP secures a $5,000,000 investment pledge from DNA Fund, marking its debut in live production.
Hong Kong, China - DNA Fund has pledged $5 million to propel the advancement of PACT SWAP, the fourth cross-chain decentralized exchange to support native Bitcoin in live production. A direct investment of $500,000 from DNA Fund's Helix Fund will accelerate development efforts.
The new initiative, PACT SWAP Labs, will be led by key contributors, including blockchain heavyweights Brock Pierce, Scott Walker, and Toby Gilbert, who join the original PACT SWAP team as co-founders.
As a next-generation cross-chain decentralized exchange (DEX), PACT SWAP enables the trading of native Bitcoin, TRON, and other assets across incompatible chains, bypassing the need for bridges, wrapped tokens, or external validators. The platform is built on Coinweb's PACT framework, promising swift, secure, and cost-efficient swaps with scalability and composability at its core, priced comparably lower than competitors.
DNA Fund's $5 million investment signifies a significant progression in PACT SWAP's development. The fund, known for backing innovative Web3 endeavors such as Mastercoin, Hedera, and EOS, will support PACT SWAP Labs through ecosystem development, strategic partnerships, and a global launch strategy.
Beyond financial backing, DNA Fund offers operational support and a proven track record in nurturing disruptive technologies. Co-founders Brock Pierce, a renowned pioneer in Tether, Block.one, and Blockchain Capital; Scott Walker, who has co-founded DNA Fund and Casper Labs, and invested in multiple successful projects including HBAR, FRAX, and Coinbase; and Toby Gilbert, co-founder of OnRamp and Coinweb, bring a wealth of experience to the project.
The initial live production release includes swap functionality for Bitcoin, TRON, Binance Coin, Ethereum, and Tether (TRC20, BEP20, ERC20) with a $20,000 trading cap, accompanied by integrations with key ecosystem partners. A full public launch is expected in the coming months.
About PACT SWAP
PACT SWAP is a promising cross-chain DEX that allows for seamless trading of native assets like Bitcoin and Tron across incompatible chains. Constructed on Coinweb's modular execution layer, PACT SWAP offers up to 95% lower fees compared to existing cross-chain protocols, and supports permissionless token listings, high composability, and near-instant finality. Appealing to both retail and institutional users, PACT SWAP redefines cost-efficiency and security in decentralized trading.
Contact Details
Anton Roos, [email protected]
About DNA Fund
Established as one of the first venture capital firms in the Web3 space, DNA Fund is spearheaded by early crypto trailblazers Brock Pierce and Scott Walker. With extensive experience in infrastructure, real-world asset tokenization, and early-stage investing, DNA Fund offers founders more than just funding, providing operational support, strategic relationships, and global visibility.
Contact
Chris Miglino, [email protected]
Disclaimer: This press release is sponsored by our commercial partners.
Daily Debrief Newsletter
[1] Stephen Morris, the CEO of Pact Swap, is highlighted as a key contributor to the project, underscoring his co-founder role within PACT SWAP Labs.
[2] DNA Fund is renowned in the crypto space for supporting early-stage Web3 leaders, including Mastercoin, Hedera, and EOS.
[3] DNA Fund offers more than financial support, providing operational assistance and strategic relationships to help startups scale.
[4] PACT SWAP Labs is led by a team consisting of Brock Pierce, Scott Walker, Toby Gilbert, and Stephen Morris as co-founders.
[5] The $5 million investment from DNA Fund aims to help PACT SWAP Labs with ecosystem development, strategic partnerships, and a global market rollout.
- DNA Fund's investment in PACT SWAP, a cross-chain decentralized exchange, signals a significant leap in the development of the platform, positioning it to support native Bitcoin in live production.
- The new PACT SWAP Labs initiative, led by Brock Pierce, Scott Walker, Toby Gilbert, and Stephen Morris, will focus on building a next-generation DEX that enables the trading of digital assets across incompatible chains.
- PACT SWAP, a promising cross-chain decentralized exchange, offers up to 95% lower fees compared to existing cross-chain protocols and supports permissionless token listings, high composability, and near-instant finality.
- Beyond financial backing, DNA Fund's operational support and strategic relationships will be instrumental in nurturing PACT SWAP Labs and its global launch strategy.
- DNA Fund, known for backing innovative Web3 endeavors like Mastercoin, Hedera, and EOS, will also support PACT SWAP Labs through partnerships and ecosystem development.
- The initial release of PACT SWAP includes swap functionality for Bitcoin, TRON, Binance Coin, Ethereum, and Tether, with a trading cap of $20,000 and integrations with key ecosystem partners.
- PACT SWAP redefines cost-efficiency and security in decentralized trading, making it appealing to both retail and institutional users.
- As one of the first venture capital firms in the Web3 space, DNA Fund offers founders more than just funding, with a proven track record in nurturing disruptive technologies in digital finance, business, and technology.
