DeFi derivatives protocol Perennial raises $12 million, launches mainnet by Yogita_Khatri5
The DeFi derivatives protocol has also launched its mainnet today.
Polychain Capital and Variant co-led the round, with Archetype, Coinbase Ventures, Scalar Capital, Robot Ventures and others participating, Perennial said. The project has launched its mainnet. "Perennial is a derivatives protocol that offers a super simple trading experience, a flexible and capital-efficient model for providing liquidity, and a developer primitive that makes composing DeFi derivatives easy," Britz said. The company aims to become the foundational infrastructure in the DeFi derivatives stack.
"This is just the start," Britz said."Perennial has a packed roadmap planned out, including more tradable markets, an ecosystem buildout on L2s [Layer 2s], and mechanism design improvements."It wasn't specified if the funding was raised via equity or token round, but Britz said the Perennial protocol doesn’t have a token at this time. The Perennial product was developed by Perennial Labs, whose parent company Equilibria was co-founded in June last year by Britz and Rao.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
This Luxurious Retinol Body Cream Is Only $12 at the DrugstoreIt's a multi-tasking formula that performs like a much (much) pricier one.
Read more »
Financial Stability Watchdogs Vow to Tackle DeFi, Learn FTX LessonsMembers of FinStbBoard say they want to take a closer look at DeFi as they rake over the coals of defunct crypto exchange FTX_Original. jackschickler reports.
Read more »
DeFi Protocol Sushi Proposes 'Immediate' Action to Support Its Treasury.SushiSwap’s developers proposed to divert 100% of fees generated on the platform to multisig for one year or until new tokenomics are implemented. By shauryamalwa
Read more »
DeFi Project Mercurial Plots Revamp and New Tokens Following 'Toxic' Association With FTX.MercurialFi will revamp following contagion troubles stemming from embattled firms FTX_Official and Alameda Research. By shauryamalwa
Read more »
DeFi Risk-Sharing Protocol Nexus Expects Loss on Maple Credit Pool Investment as FTX Contagion WidensNexus Mutual predicts a loss of 2,461 ETH of its initial investment in a wrapped ether credit pool on Maple Finance. More funds appear at risk, as 56% of the pool’s debt is to crypto firms Auros Global and Orthogonal Trading. sndr_krisztian reports
Read more »