Cypher raises $2.1M to build out expiratory futures protocol on Solana

2021-11-19 20:18

Cypher, an expiratory futures protocol built on Solana, today announced it has raised $2.1 million in a seed round co-led by Sino Global Capital, SkyVision Capital, and Blockwall Capital. With this new capital, the company will launch a protocol designed to offer synthetic derivatives products.

Cypher’s focus on futures-like products with a defined settlement date is an anomaly in the crypto world. The ability to express timeframe-driven views on the market and deploy established trading strategies appeals to both institutions and retail, hedgers, and speculators.

“We’re more than just a protocol – we’re a change agent making it possible for previously excluded parties to participate while simultaneously letting existing participants better define what they want to trade.”
– James, one of Cypher’s core contributors

To date, the protocol has announced partnerships with Sacra, Lagoon, GenesysGo, Switchboard, and Serum. The Serum DEX and Solana blockchain are integral to facilitating an interactive market and combine to make the fastest, most efficient way to trade assets on a decentralized protocol.

The Cypher platform will support portfolio margin, lending and borrowing, and friendly UI and UX design.

The post Cypher raises $2.1M to build out expiratory futures protocol on Solana appeared first on CryptoNinjas.

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