Cypher raised $2.1 million to establish an expiring futures agreement on Solana »CryptoNinjas
Cypher, an expiring futures agreement based on Solana, announced today that it has raised $2.1 million in a seed round led by Sino Global Capital, SkyVision Capital, and Blockwall Capital. With this new funding, the company will launch an agreement to provide synthetic derivatives.
Cypher focuses on futures-like products with clear settlement dates, which is an anomaly in the cryptocurrency world. The ability to express time frame-driven market views and deploy established trading strategies is attractive to institutions and retail investors, hedgers and speculators.
“We are more than just an agreement-we are a change agent, enabling the participation of previously excluded parties, while allowing existing participants to better define what they want to trade.”
– James, one of Cypher’s core contributors
To date, the agreement has announced partnerships with Sacra, Lagoon, GenesysGo, Switchboard and Serum. Serum DEX and Solana blockchain are an indispensable part of promoting interactive markets, and combine to trade assets on decentralized protocols in the fastest and most efficient way.
The Cypher platform will support portfolio margin, lending, and friendly UI and UX design.