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Thetanuts Finance raises $18 million in seed funding for DeFi platform Flest Out
Thetanuts Finance hopes to redefine the crypto options market by offering users the opportunity to earn high base returns on their digital assets Relatively new DeFi protocol plans to launch two new proprietary additions to the platform's suite of existing products Crypto derivatives platform Thetanuts Finance announced on Tuesday the closing of an $18 million seed round intended to build what it calls "innovative structured DeFi products." referred to. The round, led by Three Arrows Capital, Deribit, QCP Capital and Jump Crypto, will serve to “stimulate the development of Thetanut’s crypto derivatives ecosystem,” according to a press release. …
Thetanuts Finance raises $18 million in seed funding for DeFi platform Flest Out
- Thetanuts Finance hofft, den Markt für Kryptooptionen neu zu definieren, indem es den Benutzern die Möglichkeit bietet, eine hohe Basisrendite mit ihren digitalen Vermögenswerten zu erzielen
- Das relativ neue DeFi-Protokoll plant die Einführung von zwei neuen proprietären Ergänzungen der Plattform-Suite bestehender Produkte
Crypto derivatives platform Thetanuts Finance announced on Tuesday the closing of an $18 million seed round intended to build what it describes as “innovative structured DeFi products.”
The round, led by Three Arrows Capital, Deribit, QCP Capital and Jump Crypto, will serve to “stimulate the development of Thetanut’s crypto derivatives ecosystem,” according to a press release.
Thetanuts offers structured products that accept tokens from 11 chains as collateral and in return provide users with access to risk-adjusted return opportunities in new options markets across multiple blockchains, the platform said.
The platform is a relatively new protocol that aims to give users access to crypto-structured products on multiple decentralized networks in order to earn a favorable return. Thetanuts argues that its products will help create “new options markets” in DeFi (decentralized finance) and provide users with sustainable returns through the sale of options.
Structured products developed by Thetanuts will leverage the team's expertise in hedge fund management as well as financial analysts and smart contract developers. The idea will be to introduce two proprietary additions to the platform's suite of existing products.
These two additions include Theta Index, a basket of select options, and Theta Wheel, physically settled vaults that alternate between calls and puts. According to the press release, Theta-Wheel allows investors to “buy low and sell high” while earning premiums.
“Thetanuts provides a nimble solution that allows teams to quickly participate and scale for their communities,” said John Jansen, CEO of crypto exchange Deribit.
“Theta Index Vault automation significantly reduces the complexity of yield generation, is user-friendly and leads to increased demand flow into OTC trading and CeFi.”
Thetanuts currently operates 6-10 covered call delta strategies for ETH and BTC with a strike price of 25% above the spot price based on prevailing market rates on the Deribit crypto exchange white paper. Conversely, an exercise price for the same strategies and assets on covered puts is set at 20%.
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The post Thetanuts Finance Get $18M in Seed Funding to Flest Out DeFi Platform is not financial advice.