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- Thetanuts Finance offers structured products for major cryptocurrencies to cater to various market participants.
- Thetanuts Finance’s ambition is to push the boundaries for structured products & derivatives in DeFi.
Thetanuts Finance, a multichain decentralized options protocol, has secured $17 million in an institutional funding round. Thetanuts Finance offers a range of crypto-structured products, enabling a wide customer base to earn a yield on major cryptocurrencies and popular altcoins. Along with providing liquidity, and executing short and long options strategies.
The funding round was led by Polychain Capital LP, Hyperchain Capital, and Magnus Capital, with participation from other prominent market makers, exchanges, and institutional investors.
Thetanuts Finance’s goal is to break the barriers of Decentralized Finance (DeFi) with the support of corporate venture capitalists. Which in turn will lay a path to collaboration with well-established L1/L2 projects, prominent exchanges, market leaders, and so on.
The beneath layer of the DeFi option market is Decentralized Options Vaults (DOVs). And Thetanuts Finance is one of the earlier architects in it. The platform aims to facilitate two-way markets and offer more diverse asset offerings to drive meaningful progress in this space.
To date, existing DOV-based protocols are focusing exclusively on the sell-side market for large-cap tokens, leaving users with almost no ability to buy options, particularly for altcoins. This presents a massive opportunity that Thetanuts Finance intends to fill.
Building a Thriving Buy-Side Altcoin Options Market
Thetanuts Finance is committed to leading the way in building a thriving altcoin options market for both budding and established ecosystems across different chains, including non-EVMs.
The platform is confident that with the underlying buy-side mechanism and accessible DOV infrastructure. So it can accelerate the development of altcoin option markets across ecosystems. Creating new markets for options users and fee-generation opportunities for foundations, DAOs, institutions, and other market participants.
Delivering the Next Breakthrough in DOVs
This initial funding will make the firm intensely motivated to put in more inputs to bring extraordinary outputs in the DOV sector. The platform aims to lead and build a thriving buy-side altcoin options market via DOVs. Delivering a novel design that combines its DOV base layer with an AMM and money market. That will enable users to access leverage using altcoin options, and allow users to purchase options in a permissionless manner 24/7. The platform also aims to enable free markets to speculate on altcoin option prices and arbitrage opportunities.
The beta version of the buy-side altcoin options market of Thetanuts Finance will hit the market very soon. This is additional proof of the portal’s promise to take innovation and decentralization to a higher level.
The platform aims to become the leading altcoin options market player in the evolving multichain world. By building a thriving buy-side altcoin options market via DOVs, with accessible DOV infrastructure and an underlying buy-side mechanism.