June 30, 2021, 11:00 am EST
Miami, Florida — Delta.theta, a decentralized finance cryptocurrency derivatives exchange, announced today an investment from Thundermark, an early-stage deep tech venture capital fund and venture studio based in Miami and New York City. DeFi is a blockchain-based form of finance that does not rely on central financial intermediaries such as brokerages, exchanges or banks to offer traditional financial instruments, and instead utilizes smart contracts on blockchains. DeFi platforms allow people to lend or borrow funds from others, speculate on price movements on a range of assets using derivatives, trade cryptocurrencies, insure against risks, and earn interest in savings-like accounts. Delta.theta is a peer-to-peer derivatives trading platform that provides an advanced infrastructure and ready-made solutions to control and minimize risks in the cryptocurrency market. Currently, the solution is implemented on the Binance Smart Chain and Ethereum blockchain.
“I couldn’t be more thrilled to become involved with Delta.theta,” said Gleb Chuvpilo, managing partner at Thundermark, adding, “Delta.theta has a very strong founding team aiming at DeFi, which will drive some of the most important advancements in financial technology in the coming decade.” In addition to the investment, Delta.theta’s co-founders Danil Zatologin and Ilia Chesnokov will join Thundermark as venture partners to lead sourcing, due diligence and development of DeFi startups. “It is a great honor to join the Thundermark family,” said Zatologin, adding, “Our easy-to-use product and strong technology stack supercharged by Thundermark’s involvement will bring value to all stakeholders in the DeFi space. We are looking forward to making cryptocurrency derivatives trading accessible to anyone.”
Delta.theta also announced that it will be moving its headquarters to Miami to join the emerging tech ecosystem that already saw the Bitcoin 2021 conference this month, with at least 12,000 people attending. Cryptocurrency exchange FTX recently bought the naming rights to the Miami Heat’s arena and Miami’s mayor, Francis Suarez, announced this year that the city would accept tax payments in cryptocurrency, allow its employees to collect salaries with it, and explore holding some on its balance sheet. “I’m here to tell all the haters and all the doubters that this is not a moment, this is a movement,” he said. Mayor Suarez extended a warm welcome to Delta.theta and won the company over alternative locations in Silicon Valley, Switzerland and Singapore. “I am looking forward to having the Delta.theta team over for a Cafecito Talk,” he said.
Today, the cryptocurrency market exceeds $2 trillion in capitalization. The market is well-developed in terms of spot trading and margin services, as well as centralized trading. Delta.theta is a peer-to-peer option trading platform currently operating on both the BSC and Ethereum. In simple terms, it is a protocol that enables centralized exchange (CEX) liquidity on options to be available on-chain. This is possible because Delta.theta enables a decentralized network of real-time order book market makers to hedge decentralized exchange options against CEX order books. DeFi farmers, on the other hand, get access to the lowest premiums on price drop insurance. Today any DeFi trader would have to opt for a CEX to participate in the options market. Delta.theta solves this problem with a decentralized solution that includes a rapid fulfillment terminal on the BSC and Ethereum.
Thundermark is an early-stage deep tech venture capital fund and venture studio located in Miami and New York City. Thundermark is managed by Gleb Chuvpilo, a serial entrepreneur and early-stage venture capital investor, with a Master’s degree from the Massachusetts Institute of Technology’s Computer Science and Artificial Intelligence Laboratory and a Master of Business Administration in finance and strategic management from the Wharton School of the University of Pennsylvania. Chuvpilo was previously based in London and managed venture capital investments as a venture partner at a large European family office. Before that, Chuvpilo managed AI-driven quantitative trading portfolios at Goldman Sachs in New York and Thiel Macro in San Francisco (Peter Thiel’s global macro fund), built AI algorithms at Palantir Technologies (an In-Q-Tel-backed Silicon Valley startup which is now public) and co-founded several technology startups, including Authy (Y Combinator class 2012 which was acquired by Twilio), Ride (with Uber co-founder Oscar Salazar, which was funded by TPG and Bono and acquired by Enterprise Holdings) and Pager (also with Salazar, funded by New Enterprise Associates). Chuvpilo is a chartered financial analyst and a member of the New York Society of Security Analysts, and the Wharton Private Equity and Venture Capital Association. Chuvpilo is also an energy risk professional, as well as a graduate of the Massachusetts Institute of Technology Sloan Financial Technology program and the Reforge Growth Series with Andrew Chen.
Danil Zatologin — firstname.lastname@example.org
Gleb Chuvpilo — email@example.com