Chain News Daily Official TheBitTimes.com

Ithaca Finance, a non-custodial, composable options protocol aimed at building permissionless cross-chain infrastructure enabling optimal risk sharing across time and event horizons, is announcing a pre-seed round for its new on-chain options protocol on January 31, 2024, per the latest information shared with Finbold. The $2.5 million pre-seed funding round boasts a long list of prominent names and is led by Cumberland and Wintermute Ventures. Additionally, it Features angel investors Andrew Keys of DARMA Capital, Stan Miroshnik of TenSquared Capital, and Georgios Vlachos of Axelar, as well as Room40 Ventures and Ghaf Capital Partners. Commenting on the round, Cumberland highlighted the expertise of Ithaca’s team, while Wintermute highlighted its high hopes for the company’s protocol: Ithaca’s options platform breaks down complex financial contracts into composable elements, making it easier to handle risk and resulting in a transparent trading experience for users, and ...

On January 30, BBO Exchange (BBOX), a decentralized derivative trading platform, accomplished the closure of its pre-seed funding round. Co-led by notable early-stage venture funds Hashed and Arrington Capital, the funding round secured $2.7 million in capital, per the information shared with Finbold. Significant participation was observed from key ecosystem contributors, including Consensys, CMS Holdings, Flow Traders, Manifold Trading, Mask Network, and Laser Digital (Nomura Group). The funding round concluded in the previous year’s third quarter and received additional support from Arcane Group, Draper Dragon, Vessel Capital, Aulis Venture, Formless Capital, Press Start Capital, and One Piece Labs. Noteworthy industry figures, including Keone Hon and Hongbo Tang, also invested. BBOX’s aim  BBOX is positioned to augment the DeFi space through its distinctive strategy in decentralized derivative trading. Serving as the inaugural perpetual decentralized exchange (...