Token minting platform Dexlab has completed a private funding round to create a gateway to the Solana ecosystem.
$1.44 million was raised with the aid of grants from Solana and Eco Serum and the participation of leading blockchain VCs. Dexlab is the developer behind the Minting Lab, a turnkey solution for token issuance, management, and deployment of smart contracts.
Parataxis Capital, Genesis Block Ventures, CMS, NGC Ventures were among the investment firms to support Dexlab’s vision of a decentralized exchange and token minting framework on Solana. Other backers include Ledger Prime, Arca, Bixin, DFG, Sonic Capital, members of Race Capital, VTG, Evernew Capital, Genblock, Rok Capital, Dragon Roark, 499Block, Cryptomeria Capital, Axia8 Ventures, M6, and PetRock Capital.
Dennis Lee, Founder and CEO of Dexlab, said:
“I’m grateful to all our investors for seeing the same potential in Solana as us, and for believing that Dexlab is the best team to turn this into a reality. We’re excited for the future of decentralized finance on Solana and for helping projects use the Minting Lab as their jumping off point for exploring the many possibilities for token issuance and smart contract creation.”
Leslie, co-founder of GBV, added:
“Dexlab’s ‘Decentralized Finance as a Service’ platform is tailored for the Asian market, which is also where GBV has its roots. With its Serum integration, Dexlab becomes a strong “lego” towards making financial services more equitable globally.”
In addition to providing the investment for Dexlab to build out its token issuance solution, many of the startup’s backers will provide mentorship focused on business development, hiring, treasury, and financial management.
The Dexlab team, which is based in Korea, will be focused onboarding new projects to Solana within the Asian region. In driving down the barriers to entering the Solana ecosystem, Dexlab provides a vital onramp for developers seeking to create new defi primitives anchored by native tokens with strong fundamentals. This will strengthen network effects and align incentives between users.
Dexlab allows users to easily interact with Solana’s CLI by providing an intuitive GUI with beautiful UX/UI. This grants users the ability to coinage, manage, and list SPL tokens and NFTs with a simple one-click solution, completely bypassing the need for coding.
Dexlab is a decentralized exchange where anyone can mint and list SPL tokens. It incorporates an array of powerful defi tools coupled with an advanced GUI that facilitates the creation of SPL tokens. The Minting Lab allows users to manage all aspects of token issuance as well as deployment of plug-and-play smart contracts.