PANews reported on December 11 that according to Globenewswire, the DeFi platform SMARDEX announced the completion of a $4.5 million seed round of financing. The financing was carried out through the public sale of its sub-token sUSDN for its protocol governance. It also disclosed that RA2 TECH had previously invested $12 million in the development of SMARDEX. In addition, SMARDEX announced the launch of the synthetic dollar token USDN, and the supporting Delta Neutral strategy, which ensures that those who short ETH by minting USDN always maintain a balance with those who are long ETH within the SMARDEX platform. This is controlled by smart contracts to ensure that positions always have equal weight.

According to reports, SmarDex is a decentralized exchange (DEX) that uses an innovative automated market maker (AMM) algorithm to solve impermanent losses and potentially convert them into impermanent gains. SmarDex operates across multiple blockchain networks, including Ethereum, BSC, Polygon, Arbitrum, and Base.