ULTRADE, a pioneer in DeFi-as-a-Service infrastructure, is offering a whitelabel model that allows anyone to spin up their own exchange without writing any code. Dubbed as the ‘Ultimate Trading Suite’, ULTRADE will give brands, projects and communities the ability to generate and capture trading fees from their audience. ULTRADE has announced it raised 2.4 million dollars in its seed round from Web3 investors, including an investment from the Algorand foundation.
A Multi-Chain Platform, Starting With Algorand
"We think ULTRADE’s DeFi-as-a-Service infrastructure solution, offering a whitelabel suite with limit orderbook and perpetuals trading, has strong product market fit within the current DeFi adoption curve.” Daniel Yang, Head of Investment and Diversification, Algorand Foundation
ULTRADE’s inception began autumn last year in the visionary mind of founder Dan Goldman. Testnet was successfully launched on the Algorand blockchain in late June with thousands of active users. Upcoming features marked for mainnet this year include: limit orderbook spot trading, Hybrid AMM swaps, all with professional SDKs and Hummingbot market-making integration. Additional products in the pipeline are leveraged perpetuals and lending. The Ultimate Trading Suite will soon be available as a whitelabel DeFi-as-a-Service solution. The funding will also support the development of multichain expansion, slated for Q2 next year.
B2B DeFi Infrastructure
According to Dan Goldman, the company's founder, ULTRADE was established to provide a unique B2B infrastructure solution for DeFi creators. To achieve this ULTRADE has developed a whitelabel product combining the best of CEXes and DEXes in a hybrid orderbook DEX.
"In today's market, there is no more differentiation in trading solutions," Goldman explained during the announcement. "Centralized exchanges are practically all the same, and choosing one over the other is a matter of general convenience with very little brand loyalty. The same goes for DeFi trading, which is mostly limited to Swaps and is overcrowded, with practically no differentiation. And the one big issue all these companies face is the lack of network effects, causing them to spend an excessive amount of money on user acquisition. Their CAC is high, and it's never coming down. In fact, it gets more expensive as they grow. It's a bad business model."
Goldman added that ULTRADE’s business model was designed to create inherent network effects and solve the high CAC problem experienced by exchanges today. "ULTRADE is developing a comprehensive DeFi experience that rivals centralized exchanges (CEX) while maintaining the non-custodial tenets of DeFi, all with a white-label model," Goldman disclosed. "We don't believe there should be a tradeoff between CEX usability and decentralized exchanges (DEX)... and anyone should be able to spin up their own DeFi trading solution without having to write a single line of code."
Web3 VC Investors
The revolutionary idea has attracted the attention of major Web3 investors, who expressed their excitement over the new offering from ULTRADE. VC participants in ULTRADE's seed round include Big Brain Holdings, Tess Ventures, Sarson Funds, Valhalla Capital, Stealth Capital and more.
In their statement, the CEO of Big Brain Holdings congratulated ULTRADE on their achievements and expressed their continued support as the team took their new DeFi infrastructure to a new level. "The ability to launch your own branded exchanges & trading services in a few minutes, with a liquidity network, and keep the lion’s share of trading fees is a game-changer," they noted.
In June, ULTRADE unveiled front-end enhancements to its mobile trading interface and order-history design. The product attracted tens of thousands of users, and the team's reports indicate they've received over 190,000 orders and trades. The ULTRADE team reports it's still collecting feedback from the community. This feedback will support the development of a fully featured DeFi trading ecosystem, giving brands, projects and communities the ability to generate and capture trading fees from their audience in an owned experience.