Thetanuts Finance raises $17M from Polychain

Thetanuts Financea DeFi protocol specialized in structured productshas just completed a round of 17 million dollars led by crypto VC Polychain Capital.

Launched in 2021, Thetanuts Finance presents itself as a multi-chain decentralized options protocol offering a range of crypto structured products for traders but also for DAOs and market makers.

This Monday, the startup that develops the DeFi protocol announced a fundraising of 17 million dollars. The operation led by Polychain Capitalalso includes the participation of the investment companies Hyperchain and Magnus Capital.

Thetanuts Finance continues to bring innovative financial products to the options market and we are excited to support their vision of becoming the leading altcoin options market player in the evolving multi-chain world,” said Stelian Balta, the boss of Hyperchain Capital, in a statement.

Thetanuts Finance offers products on several crypto-currencies, including Bitcoin and Ethereum, allowing users to generate returns, provide liquidity as well as trade options.

The funding round follows a previous $18 million round announced in spring 2022. 3AC, Jump Crypto and Deribit put their hands in the pot at the time.

The fresh capital will allow the U.S.-based startup to ramp up its efforts to achieve the “next breakthrough in DOV “, the Defi options vaults.

“At Thetanuts Finance, we are committed to leading the way in building a thriving altcoin options market for emerging and established ecosystems across various channels, including non-EVMs. Our commitment to innovation and decentralization has never been stronger, and we look forward to taking the DOV model to new heights,” trumpeted Sherwin Lee, an advisor at Thetanuts Finance.

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