@Panoptic_xyz, a Uniswap-based decentralized finance (#DeFi) protocol, has just raised $4.5 million in a funding round led by Gumi Cryptos Capital. Other investors included @cbventures, @UniswapLabsVC, the @BlizzardFund, and more.
Let's dive in 🧵
Let's dive in 🧵
1/ #Panoptic aims to revolutionize the decentralized options trading market, just as @Uniswap offers decentralized cryptocurrency spot trading.
According to COO and co-founder Jesper Kristensen, the company obtained the funding through an equity plus token warrant arrangement.
According to COO and co-founder Jesper Kristensen, the company obtained the funding through an equity plus token warrant arrangement.
2/ Kristensen also stated that they plan to use Uniswap's automated market maker (AMM) as the foundation for Panoptic's initial release.
3/ In the future, the protocol will support other popular AMMs. In an interview with @TheBlock__ , Kristensen said, "We can integrate with additional concentrated liquidity AMMs if and when needed."
4/ The co-founder also mentioned that they plan to expand the team and develop their native protocol, as well as audit their code. The platform is expected to launch in the first quarter of 2023.
This news comes after a period of slow VC funding for DeFi projects.
This news comes after a period of slow VC funding for DeFi projects.
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