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Securing the Future with $2.5 Million in Funding
AI Finance, a trailblazer in the decentralized finance (defi) landscape, has announced a triumphant closure of a $2.5 million pre-seed funding round. This capital injection is pivotal for the company’s ambitious project to construct a composable options infrastructure that promises to redefine the industry.
Industry Leaders Rally Behind AI Finance
The funding initiative was spearheaded by prominent players in the crypto trading and venture capital space, with Cumberland and Wintermute Ventures co-leading the round. Their expertise and financial support are a testament to the confidence in AI Finance’s potential to disrupt the market.
AI Finance’s Mission: On-Chain Options Trading
The company’s vision is to significantly increase the volume of options trading conducted on-chain, addressing the surging demand for structured financial products within the crypto sphere. Currently undergoing testing on the Arbitrum network, AI Finance’s protocol leverages an algorithmic market maker model designed to effectively bootstrap liquidity.
A Leader with a Vision
Dimitrios Kavvathas, the CEO of AI Finance, expressed his gratitude towards the investors and shared his enthusiasm for the journey ahead: “We are truly grateful for our investors’ support and are looking forward to revolutionizing the digital asset options trading landscape with their guidance and partnership.” Kavvathas is well-versed in the financial sector, having held significant positions at Goldman Sachs, Deutsche Bank, and Amber Group.
The Technical Edge
The technical team at AI Finance is not short of expertise, boasting a diverse background in both traditional finance and emergent crypto startups, positioning them uniquely to tackle the challenges ahead.
Innovative Approach to Options Trading
AI Finance is set to redefine the approach to institutional-scale options trading on blockchains by deconstructing options contracts into their fundamental components. Their permissionless infrastructure is designed to aggregate liquidity and facilitate risk transfer across various assets and timeframes.
Looking Forward: An Invite-Only Launch and Beyond
With plans to initially launch on an invite-only basis, AI Finance is gearing up to open its protocol to the broader market in the first quarter of 2024. The funding round also saw contributions from GHAF Capital, Room40 Ventures, and a cohort of angel investors who share the vision of AI Finance.
The Defi Landscape’s New Horizon
AI Finance’s planned launch comes at a time when the defi sector is showing signs of recovery from its 2022 downturn. The total value locked (TVL) in defi currently exceeds $56 billion, indicating a renewed vigor and potential for growth.
Read More: Learn about the latest threats to restaking platforms and Blokcaid’s warning on new attack vectors.
Disclosure: This content has been provided by a third party. crypto.news does not endorse any products mentioned. Readers should conduct their own research prior to engaging with the company.
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