ALTWOW LOGO ALTWOW LOGO
  • HOME
  • PR
  • ALTCOINS
  • AIRDROP
  • DEFI
  • NEWS
    • Bitcoin News
    • Blockchain News
    • Exchange News
    • ICO News
    • Mining News
    • Regulations News
  • EXCHANGE
  • CASINO
  • MORE
    • Advertising
    • ICO
    • Web Hosting
    • Affiliate Program
    • Wallet
    • Apps
    • BOTS
    • Cards
    • MINING
Reading: Derived Finance Completes $3.3M Funding Round
Share
Ad image
Altwow Blogging WowAltwow Blogging Wow
Font ResizerAa
  • ABOUT
  • TOS
  • Cookie Policy
  • Comment Policy
  • Disclaimer
  • Privacy Policy
  • Advertisement
  • Submit Guest Post
  • Sitemap
Search
  • HOME
  • PR
  • ALTCOINS
  • AIRDROP
  • DEFI
  • NEWS
    • Bitcoin News
    • Blockchain News
    • Exchange News
    • ICO News
    • Mining News
    • Regulations News
  • EXCHANGE
  • CASINO
  • MORE
    • Advertising
    • ICO
    • Web Hosting
    • Affiliate Program
    • Wallet
    • Apps
    • BOTS
    • Cards
    • MINING
Have an existing account? Sign In
Follow US

Home - Derived Finance Completes $3.3M Funding Round

Press Release

Derived Finance Completes $3.3M Funding Round

blockchainnews
Last updated: 27/10/2022 4:08 pm
blockchainnews
Published: 12/10/2021
Share
SHARE

Delhi, India, 12th October, 2021,

Derived Finance, a Multi-Chain Synthetics Trading Platform, successfully completed a funding round that raised over $3.3 Million across more than 30 venture funds.  Some of the biggest firms in crypto investment participated in the funding round, led by GSR and including AU21, Poolz, Nabais Capital, Dweb3, Occamfi, Genblock Capital, among others.

The venture firms participating were enthusiastic about the value proposition of Derived, as well as the development progress made to date.  At its core, Derived takes its name from derived (or synthetic) tokens, which are representative of real tokens, stocks, or assets.    This allows traders of the assets to own them without having to hold the underlying asset, and any asset with a reliable or easily trackable price can be traded using derived tokens.  The benefit of using derived tokens is that users can gain exposure to the assets, providing leverage to trade both digital and traditional assets while still staying in a decentralised blockchain ecosystem.  

Bharat Verma, CEO of Derived Finance, said in response to the successful funding round:  “We are thankful to all the investors who reposed their faith in us and joined the fundraiser. More than 30 Venture funds participated in the funding round, with over $3.3 million raised.”

- Advertisement -

He added, “Together we will use the synergies to build Derived Finance, which is the next-gen Multi chain Synthetics Trading Platform.”

With the funds raised, key features are being developed for the Derived Finance platform.  Multi Chain Support will be key for the platform to operate across a wide variety of crypto ecosystems, and the team plans to be the first and only multi-chain Synthetics trading platform. The current lineup of supported ecosystems includes Polkadot, Ethereum, Binance Smart Chain, Cardano, and Avalanche, with additional capacity planned for all major chains in the future.  Staking rewards for traders is another key draw, with the ability to receive rewards while still able to use the staked token to trade on the platform.  To support the global market, Derived will support multiple currencies, allowing users to trade in their native currency while being able to trade on global derivatives.  

About Derived Finance:

Derived is a Multi-Chain Synthetics Trading Platform that is leveraging the interoperability features of Polkadot to make the platform available across Blockchains. The Derived platform allows leveraged minting (up to 3x) to its platform users. 

Derived will also be the first platform that would allow its user unique features like the ability to create and trade Hybrid Tokens and allow access to features like Binary Options, Multiple native currency support, 0% Slippage Dex with Unlimited liquidity among many others. The IDO will be conducted on 13th and 14th of October 2021.

- Advertisement -
Contacts
  • Press
  • info@marketacross.com
Share This Article
Facebook Email Print
How to Build a Crypto Mining Rig: Step-by-Step Guide for Beginners
How to Build a Crypto Mining Rig: Step-by-Step Guide for Beginners
Uncategorized
How to Download Cudo Miner: Step-by-Step Guide
How to Download Cudo Miner: Step-by-Step Guide
Guide
How to Pay Taxes on Crypto Staking Rewards: Step-by-Step Guide
How to Pay Taxes on Crypto Staking Rewards: Step-by-Step Guide
Guide
Where Is Bitcoin Mined? Discover Top Crypto Mining Locations
Where Is Bitcoin Mined? Discover Top Crypto Mining Locations
Guide
ALTWOW LOGO

Altwow.com is your reliable source for the latest crypto news, exchange reviews, and blockchain insights. We provide accurate information on DeFi projects, trading platforms, and digital assets to help investors stay ahead in the fast-moving world of cryptocurrency.

[mc4wp_form]

Qucik Menu

  • ABOUT
  • TOS
  • Cookie Policy
  • Comment Policy
  • Disclaimer
  • Privacy Policy
  • Advertisement
  • Submit Guest Post
  • Sitemap

Quick Link

© ICURE Network. ICURE Design Company. All Rights Reserved.

Follow US on Socials

Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?