Cypher, an expiratory futures protocol constructed on Solana, right this moment introduced it has raised $2.1 million in a seed spherical co-led by Sino International Capital, SkyVision Capital, and Blockwall Capital. With this new capital, the corporate will launch a protocol designed to supply artificial derivatives merchandise.
Cypher’s give attention to futures-like merchandise with an outlined settlement date is an anomaly within the crypto world. The power to specific timeframe-driven views available on the market and deploy established buying and selling methods appeals to each establishments and retail, hedgers, and speculators.
“We’re greater than only a protocol – we’re a change agent making it doable for beforehand excluded events to take part whereas concurrently letting current individuals higher outline what they need to commerce.”
– James, one of Cypher’s core contributors
Thus far, the protocol has introduced partnerships with Sacra, Lagoon, GenesysGo, Switchboard, and Serum. The Serum DEX and Solana blockchain are integral to facilitating an interactive market and mix to make the quickest, most effective technique to commerce belongings on a decentralized protocol.
The Cypher platform will help portfolio margin, lending and borrowing, and pleasant UI and UX design.