The token minting platform Dexlab has raised $1.44 million in private investment to develop a gateway to the Solana ecosystem. The platform is Minting Lab’s developer, a turnkey solution for issuing tokens, managing them, and deploying smart contracts.
The funding round became possible through grants from Solana and Eco Serum, in addition to backing from leading blockchain VCs. These included Parataxis Capital, Genesis Block Ventures, CMS, and NGC Ventures. Other supporters of Dexlab’s vision of decentralized exchange and token minting framework on Solana were Ledger Prime, Arca, DFG, Bixin, Sonic Capital, Race Capital members, Evernew Capital, VTG, Genblock, and Dragon Roark. More participants were Rok Capital, 499Block, Axia8 Ventures, Cryptomeria Capital, M6, and PetRock Capital.
Dennis Lee, founder, and CEO of Dexlab spoke saying:
“I am 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 are excited for the future of decentralized finance on Solana and for helping projects see the Minting Lab as their jumping-off point for exploring the many possibilities for token issuance and smart contract creation.”
GBV’s co-founder Leslie added:
“Dexlab’s Decentralized Finance as a Service platform is tailored for the Asian market, which is also where GBV has its roots. With Serum integration, Dexlab becomes a strong “lego” towards making financial services more equitable globally.”
Investors of Dexlab will not only provide the capital necessary for developing its token issuance solution but also provide mentorship. The latter will focus on enterprise development, hiring, treasury, and also financial management.
Korean-based Dexlab team members will work on incorporating new projects on the Solana blockchain within the Asian region. More so, Dexlab aims at cutting down on the barriers to entry into the Solana ecosystem. The platform supports developers in creating new DeFi primitives powered by native tokens that are underpinned by strong fundamentals. Network effects will, therefore, be strengthened and incentives aligned between users.
Dexlab is a decentralized exchange designed for users to mint and list Solana Program Library (SPL) Tokens. In addition to a cluster of advanced DeFi tools, Dexlab utilizes an advanced Graphical User Interface (GUI) with a friendly user interface (UI). All these facilitate SPL tokens coinage, management, and listing of both SPL tokens and NFTs, fully side-stepping the need for coding.
Finally, Dexlab’s Minting Lab enables users to manage everything to do with token issuance in addition to the deployment of plug-and-play smart contracts.