One of the early developers of the DeFi structured goods protocol, Thetanuts Finance, received a $17 million institutional fundraising round from Polychain Capital, Hyperchain Capital, and Magnus Capital.
As a vital component of the wider DeFi options business, Thetanuts Finance is at the forefront of the Decentralized Options Vaults (DOVs) industry. DOVs must develop and promote two-way marketplaces and a more comprehensive range of asset offers to propel significant advancement in the sector.
Thetanuts Finance will be able to scale its efforts to produce the next innovation in DOVs thanks to the additional funding.
Thetanuts Finance’s goal to promote accessibility to more varied asset classes and push the boundaries for structured DeFi products and derivatives is supported by the investors participating in the investment round.
“At Thetanuts Finance, we are dedicated to leading the way in building a thriving altcoin options market for both budding and established ecosystems across different chains, including non-EVMs. Our commitment to innovation and decentralization has never been stronger, and we look forward to driving the DOV model to new heights,” said Sherwin Lee, Advisor at Thetanuts Finance.
The company will aim to establish beneficial alliances with the most well-known L1 and L2 networks and founders, as well as its top liquidity providers, foundations, market makers, and exchange platforms, with the help of investors.
“Thetanuts Finance continues to bring innovative financial products to the options market and we are thrilled to support their vision of becoming the leading altcoin options market player in the evolving multichain world,” said Stelian Balta, CEO of Hyperchain Capital.
Thetanuts Finance is planning to launch buy-side altcoin options markets
Thetanuts Finance intends to be one of the first DeFi platforms to introduce buy-side cryptocurrency options markets while employing the idea of DOVs as part of this development. Existing DOV-based protocols have primarily concentrated on the sell-side market for large-cap tokens.
Investors have been unable to purchase options, particularly for altcoins, due to this concentration and the absence of decentralized options exchange platforms and liquidity sources. This market has vast growth potential, and Thetanuts Finance is ready to meet consumer demand.
AMM and money market are combined with the Thetanuts Finance base layer in its industry-first buy-side altcoin options market, allowing DeFi investors to access leverage through altcoin options. Users can access permissionless 24/7 option purchases, allowing the market to assess other currency option pricing and arbitrage opportunities speculatively.
Thetanuts Finance aims to speed up the adoption of altcoin options markets across blockchain ecosystems through its underlying buy-side mechanism and DOV infrastructure, opening up new markets for DeFi users and providing opportunities for foundations, DAOs, institutions, and other investors to earn fees.
“Functional derivatives are a key component of a healthy financial market. We are excited to back Thetanuts Finance in its mission to bring net new, foundational core products to the decentralized options market,” said Josh Rosenthal, Portfolio Manager at Polychain Capital LP.
