PANews reported on May 26 that according to official news, Solana ecosystem DEX Fermi Labs announced the completion of a $1.2 million Pre-seed round of financing. This round of financing was led by Equilibrium and BBig Brain Holdings, with participation from multiple angel investors.

According to reports, Fermi Labs is a Web3 R&D studio focused on developing dApps and infrastructure. Its flagship product, Fermi DEX, is a decentralized exchange (DEX) that runs on the Solana blockchain and uses instant order settlement and liquidity abstraction technology. In addition, Fermi Labs also provides consulting services and educational projects.