DeFi derivatives protocol Perennial raises $12 million, launches mainnet by Yogita_Khatri5
The DeFi derivatives protocol has also launched its mainnet today.
Polychain Capital and Variant co-led the round, with Archetype, Coinbase Ventures, Scalar Capital, Robot Ventures and others participating, Perennial said. The project has launched its mainnet. "Perennial is a derivatives protocol that offers a super simple trading experience, a flexible and capital-efficient model for providing liquidity, and a developer primitive that makes composing DeFi derivatives easy," Britz said. The company aims to become the foundational infrastructure in the DeFi derivatives stack.
"This is just the start," Britz said."Perennial has a packed roadmap planned out, including more tradable markets, an ecosystem buildout on L2s [Layer 2s], and mechanism design improvements."It wasn't specified if the funding was raised via equity or token round, but Britz said the Perennial protocol doesn’t have a token at this time. The Perennial product was developed by Perennial Labs, whose parent company Equilibria was co-founded in June last year by Britz and Rao.
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