Ithaca announces $2.5 million pre-seed round for novel on-chain options protocol
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 ...