Deruated financing concludes financing round of $ 3.3 million

Deruated financing concludes financing round of $ 3.3 million

[press release - Delhi, India, 12th October 2021]

derived financing, a multi-chain Synthetics Trading Platform, has successfully completed a financing round that has collected over $ 3.3 million in more than 30 venture funds. Some of the largest companies in the field of crypto investments took part in the financing round, led by GSR and below AU21, Poolz, Nabais Capital, DWEB3, Occamfi, Genblock Capital and others.

The participating venture companies were enthusiastic about the promise of value from Derived and the previous development progress. In essence, Derived has its name from derived (or synthetic) tokens that are representative of real tokens, stocks or assets. This enables traders of the assets to own them without having to hold the underlying asset, and each asset with a reliable or easily traceable price can be traded with derived tokens. The advantage of using derived tokens is that users have access to the assets and thus have a leverage for the trade in digital and traditional assets and at the same time remain in a decentralized blockchain ecosystem.

Bharat Verma, CEO of Derived Finance, said in response to the successful round of financing: "We are grateful to all investors who have given their confidence and have joined the fundraising campaign. More than 30 venture funds took part in the financing round and received over 3.3 million US dollars."

he added: "Together we will use the synergies to build derived finance, the multi-chain trading platform for the next generation."

With the raised means, key functions for the Derived Finance platform are developed. Multi Chain Support will be of crucial importance for the operation of the platform in a variety of crypto ecosystems, and the team plans to be the first and only multi-chain synthetic trading platform. The current list of the supported ecosystems includes Polkadot, Ethereum, Binance Smart Chain, Cardano and Avalanche, whereby additional capacities are planned for all large chains in the future. Sticking rewards for retailers is another important attraction, with the possibility of receiving rewards, while you can still use the stuck token for retail on the platform. In order to support the global market, Derived will support several currencies so that users act in their home currency and at the same time act with global derivatives.

on derived financing:

derived is a multi-chain synthetics trading platform that uses the interoperability functions of Polkadot to make the platform available across blockchains. The derived platform enables your platform users Leveraged Minting (up to 3x).

that offers its users unique functions such as the possibility to create and act hybrid tokens and to enable access to functions such as binary options, support for several natural currencies, 0% slippage dex with unlimited liquidity among many others. The IDO will be carried out on October 13 and 14, 2021.