Exotic Markets DeFi Ecosystem shares details of its funding round and plans for the next release
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- Overseas Markets Raises $5 Million, Multicoin and Ascending Assets Lead the Round
- Pushing DeFi’s Limits on Solana
Exotic Markets, a protocol that brings structured finance to Solana’s DeFi segment, closed its strategic funding round backed by top-tier investors.
Overseas Markets Raises $5 Million, Multicoin and Ascending Assets Lead the Round
According to an official announcement shared by the team at Exotic Markets Protocol, its strategic funding round has ended successfully. A total of $5 million has been raised from a group of high-profile VCs and angel investors.
Thanks to low cost and high throughput @solana Blockchain, overseas markets can offer fair and transparent on-chain computation for a fair price.
Robo advisor will reduce the complexity and guide the users towards tailor-made solutions.
– Foreign Markets (We’re Hiring!) (@exotic_markets_) 3 January 2022
Venture capital heavyweight Multicoin and Ascendant Assets co-led the round, with Alameda Research, Animoca Brands, Morningstar Ventures and Solana Capital TPS also supporting overseas markets in their fundraising efforts.
Oliver Blakey, Managing Partner at Ascending Assets, emphasized that his team is thrilled with Exotic Markets’ vision and the progress it has made so far:
At Ascendant Assets, we have a long-term vision for the market and focus on ancillary projects that deliver sustainable value. The structured offering will open up opportunities for investors to generate yields in stablecoins instead of governance tokens. We see this as a very healthy development for the DeFi space.
The protocol is going to spend the money raised to promote the next phases of its development. Its main focus remains untouched as overseas markets address the creation of structured finance on the high-performance blockchain Solana (SOL).
Pushing DeFi’s Limits on Solana
Multicoin Capital investor Spencer Applebaum is certain that structured finance is the offering the markets badly need in 2022:
At Multicoin, we are very excited about the growth in structured products. The unique architecture of Exotic Markets will allow more forms of payment on a higher underlying than ever before. This will ultimately benefit the entire DeFi sector and create new ways for people to profit from volatile markets.
Simply put, Exotic Markets releases products that allow Solana enthusiasts to generate larger and more sustainable yields on a variety of assets.
The overseas market development is curated by fintech and programming giants Joffrey Dalet and Benjamin Rameau. Both have decades of experience in blockchain, equity management and investments.