Exotic Markets DeFi Ecosystem Shares Funding Round Details and Plans for Next Releases
Exotic Markets, a protocol that brings structured finance to Solana’s DeFi segment, closes its strategic funding round supported by top-tier investors.
Exotic Markets Raises $ 5 Million, Multicoin and Ascensive Assets Lead the Round
According to the official announcement shared by the Exotic Markets protocol team, its strategic roundtable has been successfully completed. A total of $ 5 million is raised from a group of leading venture capital and angel investors.
Venture capital heavyweights Multicoin and Ascensive Assets co-led the round, with Alameda Research, Animoca Brands, Morningstar Ventures and Solana Capital TPS also backing Exotic Markets in its fundraising efforts.
Oliver Blakey, Managing Partner of Ascensive Assets, points out that his team is fascinated by the vision of Exotic Markets and the progress they have made so far:
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.
The protocol will spend the funds raised to fuel the next phases of its development. Its main objective remains unchanged as Exotic Markets tackles the construction of structured finance on the high performance Solana (SOL) blockchain.
Pushing the frontiers of DeFi on Solana
Multicoin Capital investor Spencer Applebaum is certain that structured finance is the offering that markets badly need in 2022:
At Multicoin, we are very excited about the growth of structured products. The unique architecture of Exotic Market will allow more forms of earnings on more Underlyings than ever before. This will ultimately benefit the entire DeFi space and create new ways for people to profit from market volatility.
Simply put, Exotic Markets releases products that allow Solana enthusiasts to farm bigger and more sustainable yields on various assets.
The development of exotic markets is organized by fintech and programming veterans Joffrey Dalet and Benjamin Rameau. Both have decades of experience in blockchain, stock management, and investing.
