Structured Products Are Coming to Solana DeFi as Exotic Market Raises $5 Million in Funds

January 5, 2022 at 3:00 pm

News

DeFi protocol Exotic Markets today announced a successful raise of $5 million in funding from several top crypto VC firms and investors.

Exotic Market Raises $5 Million

Exotic Markets is an emerging DeFi protocol that aims to bring wealth management products and services into the DeFi space.

Today, the project announced it had successfully raised $5 million in its latest funding round. In addition, Exotic Markets’ private token sale round continued to draw attraction from the wider crypto industry as the demand for structured products swells.

Notably, Multicoin and Ascensive Assets participated as the lead investors in Exotic Markets’ $5 million private token sale. The round witnessed participation from Alameda Research, Animoca Brands, Morningstar Ventures, Solana Capital TPS, and others.

Commenting on the development, Oliver Blakey, Managing Partner at Ascensive Assets, 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 committed to introducing a wider range of sophisticated, and innovative structured products in the Solana DeFi ecosystem. Solana’s rapidly rising adoption on the back of its high scalability, efficiency, and low fees make it the ideal blockchain for DeFi products, products, and services.

The team at Exotic Markets aims to introduce new product offerings never seen before in the DeFi space. Notably, Exotic Markets supports single product offerings, including digitals, path-dependent products, and other instruments based on the performance of baskets of tokens.

Multicoin Capital Investment Spencer Applebaum noted:

“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.”

All development efforts at Exotic Markets are led by Joffrey Dalet who holds nine years of experience trading volatility products and served as a quant volatility hedge fund manager. Dalet will work with Benjamin Rameau who’s experienced in equity sales, trading, and blockchain technology to bring innovative and robust structured DeFi products.

About Exotic Markets:

We decided to bring wealth management and structured products out of the bank and in the decentralized finance world. If you want to grow your wealth on crypto, exotic is here to help you do it. Earn yield like never before!