Thetanuts Finance has recently completed an institutional funding round that raised $17 million, with leading crypto investment firms Polychain Capital, Hyperchain Capital, and Magnus Capital as the main investors. This decentralized finance (DeFi) protocol is known for its crypto options contracts, and the raised funds will be utilized to create a “buy-side altcoin options market.” The company plans to expand its coin offerings by adding more “altcoins,” and this upcoming marketplace will incorporate elements of an automated market maker and a traditional money market to provide a distinctive trading options system.
The protocol aims to become one of the first platforms to offer adequate products for the buy side of the options market. The beta version of the platform will be available soon, and Thetanuts Finance hopes that this new platform will appeal to investors seeking a unique and innovative approach to trading options in the DeFi space.
