Gal Gadot is an angel investor in first DeFi protocol on Cardano

AdaSwap, an ecosystem builder that will establish one of the first DeFi protocols on the Cardano (ADA/USD) network, has raised $2.6 million in an iAngels-led funding round, Invezz learned from a press release.

Other participants included GBV, Shima Capital, Stardust, Pluto Digital, Efficient Frontier, Finova, Banter Capital, and Coti. Actress and producer Gal Gadot and producer Jaron Varsano were among the notable angel investors.

Funds used to build DEX and unique NFT marketplace on Cardano

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AdaSwap will use the funds raised to build the best decentralized exchange on Cardano, as it has promised to do. DEX development will run parallel to other projects, such as a unique, exclusive NFT marketplace that will be home to curated collections and famous artists in the space. 

AdaSwap’s DeFi capabilities will include staking and fixed, long-term and high-yield liquidity pools. These applications will enable DEX users to stake tokens, buy and sell NFTs and earn interest on ADA.

iAngels said in a statement:

We invested in AdaSwap because we believe in the team, it’s mission, and its tech roadmap. The future of finance is digital and projects like AdaSwap will facilitate financial freedom and democratization for the masses.

Gal Gadot and Jaron Varsano made a joint statement:

This is an exciting investment opportunity for us in the crypto space.

GBV Capital commented:

We are delighted to be an early supporter of AdaSwap. We believe the team will be able to adapt and build a leading decentralized exchange native to Cardano to increase DeFi usage.

AdaSwap cofounder Itay Levy noted:  

This is one of our first and greatest accomplishments towards building a new financial ecosystem that will have a great impact on our world. The AdaSwap team is really excited to move forward with our project backed by the best investors from both technical and commercial backgrounds. We would like to thank all our partners and advisors for supporting us to this point and we cannot wait to show the world what we have done.

With its first-mover advantage on Cardano, AdaSwap will create a micro-ecosystem that will enable others to develop and use the Cardano blockchain and help it to realize its game-changing potential.

Yida Gao, General Partner at Shima Capital added:

Although Cardano has been a top ten protocol by market cap for many years, there is still massive upside in its ecosystem that only recently launched composable smart contracts for developers. We at Shima Capital believe Aaron and the AdaSwap team are well positioned to create core building blocks of the ADA ecosystem starting with a native DEX that can handle trades, swaps and bridges.