DeFi Protocol Thetanuts Finance Secures $17M to Expand and Forge New Partnerships

Thetanuts Finance Raises $17M for Expansion and New Partnerships in DeFi

Thetanuts Finance, a decentralized finance platform, has successfully concluded a funding round, securing $17 million in investments. The funding was led by prominent investors Polychain Capital, Hyperchain Capital, and Magnus Capital.

This infusion of capital will enable Thetanuts Finance to establish strategic partnerships with layer 1 and layer 2 networks, liquidity providers, blockchain foundations, market makers, and exchanges. The company aims to leverage these partnerships to enhance its ecosystem and expand its offerings.

The funding round arrives at a time when the crypto industry is gradually recovering from the “crypto winter” that significantly impacted the investment landscape. During this challenging period, providers of blockchain infrastructure have showcased resilience, and decentralized finance (DeFi) projects have gained traction, particularly after the collapse of centralized exchange FTX last autumn.

Thetanuts Finance specializes in providing crypto structured products catering to option traders, decentralized autonomous organizations, market makers, and liquidity providers. Users can earn yield on major cryptocurrencies and popular altcoins, provide liquidity, and execute short and long options strategies.

In the near future, Thetanuts Finance plans to launch a buy-side altcoin options market powered by decentralized options vaults. This development aims to make options strategies, especially those involving altcoins, more accessible to a broader range of investors.

Sherwin Lee, an adviser at Thetanuts Finance, emphasized the company’s commitment to innovation and decentralization, particularly in building a thriving altcoin options market across various chains, including non-Ethereum Virtual Machines (EVMs).

Previously, Thetanuts Finance successfully raised $18 million in a funding round led by crypto hedge fund Three Arrows Capital, along with participation from crypto options exchange Deribit, QCP Capital, and Jump Crypto. It’s worth noting that Three Arrows Capital faced challenges and ultimately collapsed due to its exposure to the troubled crypto network Terra in May 2022.


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