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Stackswap will be the world’s first complete DEX and Launchpad on the Bitcoin Network. In one of its steps to do so, Stackswap announced its official completion of a private round. Specifically, the brand raised $1.3 million in the first round.

In detail, Stacks Foundation led the investment round. In addition, the round also saw participation from many other prominent investors. These include Genesis Block Ventures (GBV), HashKey, and SOSV. These early investors share a long-term vision of seeing Stackswap become the biggest DEX on Bitcoin.

More so, the platform is powered by Stacks’ PoX mechanism. It directly triggers the Bitcoin transactions on every block. To highlight, Stackswap will begin running on the Bitcoin Network this month. To add on, the Stacks mainnet will act as a layer-2 chain on top of the Bitcoin Network. In fact, it will bring smart contract functionalities onto the network. Stackswap stated,