Decentralized finance (DeFi) protocol Exotic Markets has successfully raised $5 million in funding from various prominent venture capitalists (VCs) and investors. In addition, the private token sale round attracted tremendous attention, as demand for structured products in DeFi has picked up strongly.
Exotic Markets is thrilled to announce the completion of the $5 million private token sale. Noteworthy investors include Multicoin (lead investor), Ascensive Assets (lead investor), Alameda Research, Animoca Brands, Morningstar Ventures, Solana Capital TPS and others. The DeFi industry remains appealing to investors, mainly when protocols introduce new products and services catering to a broader audience.
Ascensive Assets’ managing partner Oliver Blakey adds:
“At Ascensive Assets, we have a long-term vision for the market and focus on supporting projects that offer sustainable value. Structured products will open up opportunities for investors to generate yield denominated in stablecoin rather than governance tokens. We view this as a very healthy evolution of the DeFi space.”
For Exotic Markets, the focus lies in introducing a broader range of structured products in DeFi by leveraging the Solana blockchain. Solana quickly becomes a go-to place for decentralized finance protocols, products and services thanks to the network’s speed, efficiency and low fees.
Moreover, the team is keen to innovate with new product offerings never before seen across decentralized platforms. Exotic Markets has a unique architecture, distinguishing it from all other DeFi projects on the market today. Moreover, it supports single product offerings including digitals, path-dependent products and vehicles based on the performance of baskets of tokens.
Multicoin Capital investor Spencer Applebaum comments:
“At Multicoin, we are very excited about the growth in the structured products. Exotic Market’s unique architecture will allow more forms of payoffs on more underlyings than we have ever seen before. This will end up benefiting the entire DeFi space and create new ways for people to benefit from the volatility market.”
Joffrey Dalet leads the development of the Exotic Markets protocol. Dalet has nine years of experience trading volatility products and served as a quant volatility hedge fund manager. Together with Benjamin Rameau — who is experienced in equity sales, trading and blockchain technology — they developed this approach to structured products in a decentralized environment.
About Exotic Markets
We decided to bring wealth management and structured products out of the bank and into the decentralized finance world. If you want to grow your wealth on crypto, Exotic is here to help you do it. Earn yield like never before/