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DeFi protocol Exotic Markets raised $5 million in a funding round, in which various prominent VCs and investors took part. The lead investors were Multicoin and Ascensive Assets. Other notable investors included Animoca Brands, Alameda Research, Morningstar Ventures, Solana (SOL/USD) Capital TPS, and others.

The private round attracted lots of attention with rising demand for structured products in DeFi. DeFi sustains investors’ interest, especially with protocols offering new products and services catering to a broader audience.

Ascensive Assets’ Managing Partner Oliver Blakey said:

At Ascensive Assets, we have a long-term vision for the market and focus on supporting projects that offer sustainable value. Structured products will open up opportunities for investors to generate yield denominated in stablecoin rather than governance tokens. We view this as a very healthy evolution of the DeFi space.

Exotic Markets is focused on introducing a wider variety of DeFi structured products by leveraging the Solana blockchain. Solana has become the go-to destination for DeFi products, protocols, and services thanks to its low fees, speed, and efficiency.

Exotic’s team is keen on innovation with new and original product offerings. Its unique architecture sets it apart from all other DeFi projects on the market today. Moreover, it supports digitals and path-dependent products, single product offerings, and vehicles based on the performance of token baskets.

Multicoin Capital Investor Spencer Applebaum commented:

At Multicoin, we are very excited about the growth in the structured products. Exotic Market’s unique architecture will allow more forms of payoffs on more underlyings than we have ever seen before. This will end up benefiting the entire DeFi space and create new ways for people to benefit from the volatility market.

Exotic Markets protocol is led by Joffrey Dalet, who boasts almost a decade of experience trading volatility products. He and Benjamin Rameau, who is experienced in blockchain tech, trading, and equity sales, developed the cutting-edge approach to create structured products in a decentralized environment.

The post Exotic Markets leverages Solana to launch structured projects appeared first on Invezz.

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