Derived Raises $3.3 Million to Build a Decentralized Synthetic Assets Platform
Derived Finance, a decentralized synthetics assets trading platform, announced a $3.3 million funding round led by over 30 crypto venture capital firms. Announced Tuesday, Derived Finance successfully completed a private funding round raising over $3.3 million shortly before launching their initial DEX offering, slated for October 13th. The funding will be used to develop key features for the Derived Finance ecosystem, build additional multi-chain solutions, and add more synthetic assets to the platform. The funding round attracted some of the biggest names in the crypto venture capital....
Related News
Beyond Finance, a decentralized platform for creating and trading synthetic financial products has announced a $7.5-million round of fundraising from leading blockchain funds, including Moonwhale Ventures, A195, DuckDAO, Cryptomeria Capital, Blocksync, X21 Digital, Rarestone Capital, Master Ventures, Consensus Capital, and more. The announcement comes after the company raised the funds simply by word of mouth […]
Two new synthetic asset and derivatives platforms look to take a slice of Synthetix’s pie. Synthetic assets, one of the most promising use cases for decentralized finance (DeFi), is becoming an increasingly competitive landscape as two new projects aim to bring scalability and new markets to traders. On Friday, decentralized derivatives exchange Injective Protocol began a push into synthetic assets with the launch of a 24/7 synthetic gold market on their Solstice layer-2 testnet. “It's fairly interesting to explore gold for the first commodity futures on Injective because Bitcoin and Gold....
Beyond Finance, a decentralized platform for creating and trading synthetic financial products has announced a $7.5-million round of fundraising from leading blockchain funds, including Moonwhale Ventures, A195, DuckDAO, Cryptomeria Capital, Blocksync, X21 Digital, Rarestone Capital, Master Ventures, Consensus Capital, and more. The announcement comes after the company raised the funds simply by word of mouth over the past few weeks, without any advertising in the lead-up to its initial DEX offering scheduled for early April. […]
Polysynth aims to support trading for 100,000 different synthetic tokenized assets through its “virtual market maker” protocol. Polysynth, a Polygon-based synthetic asset platform, has secured investments from a number of DeFi venture capital firms and angel investors.The team announced a $1.5 million funding round as part of its seed round on Nov. 15, revealing participation from Jump Capital, DeFi Alliance, Hashed, and a number of individuals such as Alan Howard, co-founder of Brevan Howard Asset Management, and Polygon’s co-founders Sandeep Nailwal and Jaynti Kanani. Polysynth stated....
Standard Hashrate is launching TAU, an algorithmic asset protocol backed by Bitcoin hash rate. A group of Bitcoin (BTC) mining companies have put their weight behind Standard Hashrate and its recently launched TAU Protocol, a synthetic asset platform using hashrate derivatives for its peg mechanism.Announced on Friday, the TAU project aims to create algorithmic versions of Bitcoin and other Proof-of-Work assets through a revisited rebase mechanism. The basic concept is similar to simple rebase coins, including the synthetic Bitcoin offered by Badger. The TAU protocol, however, adds a....