Lumina DEX Closes Strategic Round from Mina Foundation, Jump Crypto, Big Brain Holdings, and O(1) Labs to Enable Compliant & Private DEX on Mina Protocol

Lumina, a new enterprise-ready DEX and DeFi platform, will leverage the funds raised to enable fully private and compliant DeFi services on Mina Protocol, aiming to capture growing institutional interest in participating in DeFi.

SAN FRANCISCO, Aug. 23, 2023 /PRNewswire-PRWeb/ -- Lumina, a new enterprise-ready DEX and DeFi platform built on the Mina blockchain, announces the close of a strategic investment round from Mina Foundation, Jump Crypto, Big Brain Holdings, and O(1) Labs to build a hybrid permissioned and permissionless DEX on Mina Protocol with integrated KYC. By building on Mina's zero knowledge-powered layer-1 blockchain network, Lumina aims to enable fully compliant DeFi trading that also preserves user privacy.

Evan Kereiakes, CEO of Lumina, said, "Our objective is to meet the increasing demand from enterprises and financial institutions for private and permissioned DeFi solutions, and the closing of this strategic round puts us in a position to deliver this. We chose to build on Mina Protocol due to the layer-1's unparalleled strengths in zero knowledge technology, developer toolkits, and capabilities for enabling compliance, data privacy, and exponential scalability. We know how important these components are for institutions and look forward to meeting this demand with the launch of our DeFi stack."

Kurt Hemecker, COO of Mina Foundation, shared, "We are thrilled to extend our support to Lumina DEX in this strategic raise, as we firmly believe that Lumina DEX is proactively addressing the concerns that until now have led traditional financial institutions to hesitate in embracing DeFi. Recognizing the significance of compliance in today's regulatory climate, Lumina DEX is dedicated to providing private DeFi solutions built on the Mina Protocol, which aim to align with regulatory standards and facilitate an environment of compliance and transparency. Lumina represents a bright new era for decentralized finance."

Beyond addressing the need for compliant and private DeFi participation, Lumina DEX also resolves other challenges by deploying on Mina Protocol, given its focus on improving both user experience and developer experience, maintaining low transaction fees, preventing MEV front-running, and offering greater scalability.

To learn more about Lumina DEX and stay up-to-date on their developments, visit their website and follow them on Twitter.

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About Lumina
Lumina is a new enterprise-ready DEX and DeFi platform built on Mina Protocol. Lumina solves the challenges faced by traditional decentralized exchanges by creating permissioned liquidity pools with zkKYC to enable compliance and zkSNARKs for privacy. Lumina is highly scalable, efficient, and maintains user data privacy while working alongside KYC and AML partners. With Lumina, enterprise and retail users can exchange a variety of assets in a fair and transparent environment.

About Mina Foundation
The Mina Foundation is a public benefit corporation serving the Mina Protocol, the world's lightest blockchain. The Foundation supports the protocol and its community by issuing grants to third parties that make significant contributions and by maintaining & managing community and network health. Board members include former Executive Director at ZCash Foundation Josh Cincinnati, Harvard Business School Finance Professor and Coinbase Advisory board member Marco Di Maggio, former Crypto Engineering Lead at Twitter Tess Rinearson, Mina Foundation General Counsel Joon Kim, and Mina Foundation CEO Evan Shapiro.

About O(1) Labs
Founded in 2017, O(1) Labs is a blockchain technology company with a core focus on zero knowledge (zk) and other forms of novel cryptography. Their notable achievements include the incubation of the Mina Protocol, the world's first zk blockchain that is lightweight, scalable, and decentralized, and the creation of the o1 SDK, an intuitive toolkit for zk application developers. O(1) Labs' vision is to catalyze a new generation of applications powered by zero knowledge cryptography. Discover more about O(1) Labs and the Mina Protocol at http://www.o1labs.org.

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SOURCE Lumina