Opyn – the decentralized choices protocol – has simply introduced the shut of their $6.7M Collection A spherical led by buyers like Paradigm, Kain Warwick and Stani Kulechov. The protocol touts it’s capital-efficient choices buying and selling construction because it’s the key sauce and permits customers to purchase, promote, and create choices within the type of ERC-20 tokens.
— opyn (@opyn_) February 3, 2021
Whereas a number of choices for DeFi choices are in reside improvement, no clear chief has emerged but. Opyn is competing on this house with the likes of Hegic, Primitive, Charm Finance, and extra however appears to be one of many leaders of the pack to date.
Since their preliminary launch in the summertime of 2020, Opyn protocol has facilitated the buying and selling of $125M price of cryptocurrency choices. Extra lately in 2021, the staff launch launched Opyn V2 which centered on enhancing capital effectivity. V2 additionally enabled customers to commerce possibility spreads and combos, auto-exercise at expiry, and create new choices on any whitelisted product.
The Opyn staff believes that their subsequent focus shall be centred round decreasing margin necessities, including further property to the protocol, and rising the prevailing liquidity for choices created by way of Opyn.
With this new funding, they hope to onboard further staff members that may be capable of assist the undertaking attain its lofty objectives. Open positions at Opyn could be seen on their AngelList page.
To maintain up with Opyn, observe their Twitter.
Enterprise Growth and Operations at TrustToken – TUSD. Jack is a startup generalist and DeFi fanatic. Keep related with him by following @HHJackSun on Twitter.