Key Points:
- Uniswap-based DeFi protocol secures funds for innovative perpetual options platform.
- Panoptic addresses underserved DeFi options market, introducing continuous rollover perpetual options.
- Greenfield Capital leads funding, emphasizing Panoptic’s leadership in AMMs and outstanding UX/UI
Uniswap based decentralized finance (DeFi) protocol Panoptic secures has successfully secured a $7 million seed funding round to propel the development of its innovative perpetual options decentralized exchange platform.
European crypto investment firm Greenfield Capital spearheaded the funding, with notable participation from HashKey, gumi Cryptos Capital (gCC), L1D, Heartcore Capital, Comma3, and Zee Prime Capital, among others. Panoptic and Greenfield have chosen not to disclose the valuation for this funding round.
This financial injection will support Panoptic’s ongoing beta testing phase, paving the way for an Ethereum mainnet launch and the introduction of its V2 product. The seed funding brings Panoptic’s total raised capital to $11.5 million, following a previous $4.5 million seed funding round in December 2022 led by gCC, with participation from Uniswap Labs Ventures, Coinbase Ventures, Jane Street, Avalanche Foundation’s Blizzard fund, and others.
Greenfield Capital Leads Panoptic’s $7M Seed Round Success
Panoptic’s unique offering, known as “panoptions” perpetual options, aims to address a notable gap in the DeFi market. Perpetual options, similar to perpetual futures, offer the functionality of traditional options trading without fixed expiry dates, allowing for continuous rollover every 12 seconds.
Built on Uniswap v3, one of the world’s largest decentralized exchanges, Panoptic enables users to trade perpetual options between any two Ethereum ERC-20 tokens. This facilitates more advanced and flexible DeFi trading strategies, including hedging and income generation.
Panoptic’s co-founder and CEO, Guillaume Lambert, highlighted the groundbreaking nature of their perpetual options, envisioning a future where finance is truly democratized. The options market, as per Panoptic, is currently “vastly underserved” compared to traditional finance options markets. Daily DeFi options volume, standing at $4.59 million, represents just 0.2% of DeFi’s daily $2.5 billion decentralized exchange volume, according to DefiLlama.
Greenfield Capital’s Principal, Gleb Dudka, expressed confidence in Panoptic’s position as thought leaders in Automated Market Makers (AMMs), emphasizing their outstanding platform, which simplifies options trading strategies with an excellent user experience and interface. Panoptic, founded in July 2022 by Kristensen and Lambert, endeavors to pioneer innovation within the DeFi landscape, focusing on expanding the adoption of options trading strategies.
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Source: https://coincu.com/228815-panoptic-secures-7m-revolutionize-defi/