THELOGICALINDIAN - The Solana DeFi activity has accustomed abetment from some above players
Exotic Markets, a decentralized accounts agreement congenital on Solana, has appear a $5 actor accession to accompany new structured articles to the Solana DeFi ecosystem.
Exotic Markets Raises $5 Million for Solana DeFi
Exotic Markets appear today that it completed a $5 actor accession from assorted arresting investors and adventure basic funds in adjustment to armamentarium new structured articles it affairs to accompany to Solana’s DeFi ecosystem. Funding was done via a clandestine badge sale.
The advance investors abaft the accession were Multicoin, which has invested in projects like Eden, Arweave, Audius, and Solana itself, as able-bodied as Ascensive Assets, which has investments in Yield Guild Games DAO and Jenny Metaverse DAO. Other investors included Sam Bankman-Fried’s Alameda Research, Animoca Brands, Morningstar Ventures, and Solana Capital TPS.
Exotic Markets is a decentralized accounts belvedere for Solana that hopes to “bring abundance administration and structured articles out of the coffer and in the [sic] decentralized accounts world.” Structured articles (market-linked investments) are pre-packaged advance strategies that are based on assorted banking articles including securities, options (derivatives), indices, commodities, debt issuance, and adopted currencies.
Structured articles advice investors booty on highly-specific risks and crop ambit for a advanced arrangement of advance theses (e.g. the bazaar will abide collapsed for the abutting three months). Exotic Markets seeks to accomplish it simple to accept both the upside and downside of a accustomed structured product. The aggregation says it was congenital on Solana because of its fast and bargain transactions.
Speaking on the badge sale, Managing Partner at Ascensive Assets Oliver Blakey emphasized the account and accent of structured articles for the apple of decentralized finance, acceptance “for investors to accomplish crop denominated in stablecoin rather than babyminding tokens.”
Exotic Markets is not the alone belvedere architecture on Solana, and investors accept noticed. Solana is currently the fourth better blockchain by bazaar capitalization; its badge began 2024 beneath $2 and climbed all the way up to a aiguille of almost $259 on Nov. 5. At the time of writing, Solana is trading at $168.
This brief acceleration is acceptable in allotment due to the bulk of money abounding into the Solana ecosystem. In Nov. 2021, Reddit co-founder Alexis Ohanian’s close Seven Seven Six partnered with Solana Ventures on a $100 actor action focused on decentralized amusing projects (Web3) such as decentralized amusing media. The next month, Solana Ventures appear a $150 actor action to armamentarium blockchain-based games. This followed addition nine-figure allotment action from the ages afore that was focused on Web3 gaming for Solana.
Disclosure: At the time of writing, the columnist of this allotment endemic ETH, AUDIO, AR, YGG, and several added cryptocurrencies.
