Derived Finance Raises $3.3 Mln from Top VCs To Release Multi-Chain Trading Platform

Derived Finance Raises $3.3 Mln from Top VCs To Release Multi-Chain Trading Platform

Novel decentralized trading platform Derived Finance is going to change the game in the segment of crypto derivatives trading. It has successfully completed fundraising and is now eyeing an IDO.

Derived Finance raises $3.3 million, GSR Ventures led the round

According to a press release shared with U.Today, Derived Finance, a multi-blockchain platform for cryptocurrency derivatives trading, has completed its strategic funding round.

🚀 The whitelisting competition and token airdrop for the #IDO is now LIVE! 🚀You can expect:🎁 5x 100$ allocation for best content🎁 5x 100$ allocation for top referrers🎁 Token airdrop for EVERY participant of this competitionRules 👉— Derived (@DerivedFinance) October 9, 2021

The net sum of funds secured surpasses $3.3 million. The round was led by GSR Ventures, while AU21, Poolz, Nabais Capital, Dweb3, Occamfi and Genblock Capital also participated.

Bharat Verma, CEO of Derived Finance, highlights the eccentric character of Derived Finance's proposition and its ambitious long-term vision:

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

Fresh funds will fuel the expansion of Derived Finance's suite of services, adding new assets and new instruments, integrating new fiat currencies for more profitable and seamless trading.

Pioneering multi-chain derivatives trading

Derived Finance offers its clients a rich toolkit of derivatives trading functions. It operates across multiple platforms, including Polkadot, Ethereum, Cardano, BSC and Avalanche.

Various assets can be minted on Derived Finance as synthetics. Besides spot trading, the platform also offers trading with 3x leverage for short and long positions.

On Oct. 13-14, 2021, the Derived Finance team is going to conduct an initial decentralized exchange offering (IDO) on a leading launchpad.