A number of venture capital giants have completed a financing round for Ethereum-based volatility and derivatives protocol Volmex Finance.
According to a March 17 announcement from Volmex Labs, the financing round was contributed to by several leading decentralized finance venture capital firms including Alameda Research, Three Arrows Capital, Robot Ventures, CMS Holdings, IOSG Ventures, D64 Ventures, and Fourth Revolution Capital in addition to a number of individual angel investors including BarnBridge’s Tyler Ward. The amount raised was undisclosed.
4RCapital co-founder Keegan Selby posted on Twitter:
“Extremely excited to back Volmex Finance as they introduce volatility indices, a core financial primitive of the quadrillion dollar global derivatives market, to Decentralized Finance.”
The project, introduced in December 2020, aims to bring volatility hedging to Ethereum which will unlock a number of new DeFi applications and investment opportunities.
It has launched an index designed to measure the 30-day implied volatility of Ethereum called the ETHV Index v1. It can be used in a similar way to the Chicago Board Options Exchange’s VIX which provides anTitle: Volatility derivatives project Volmex Finance attracts backing from VC giants
Sourced From: cointelegraph.com/news/volatility-derivatives-project-volmex-finance-attracts-backing-from-vc-giants
Published Date: Thu, 18 Mar 2021 01:59:35 +0000