Panoptic Raises $4.5 Million In a Seed Funding Round

Perpetual Protocol Panoptic is set to launch its Defi platform in the first quarter of next year.
Panoptic Raises $4.5 Million In a Seed Funding Round

Panoptic, a Uniswap-based decentralized finance protocol for trading perpetual options, has raised $4.5 million in a seed funding round. The funding was secured via an equity plus token warrant arrangement.

The Gumi Crypto Capital led the seed round with Uniswap Labs Ventures, Coinbase Ventures, Jane Street, Avalanche Foundation’s Blizzard fund, and more.  

In June, Panoptic was established by Kristensen, a former head of research at Advanced Blockchain AG. Kristensen announced the first version of Panoptic will be based on Uniswap’s automated market maker (AMM). 

Panoptic is scheduled to launch in the first quarter of next year, as per reports. It is then intended to support other popular and successful AMMs.

Furthermore, Kristensen said, “We can integrate with other concentrated liquidity AMMs if and when needed.” 

Kristensen also said that Panoptic with fresh capital in its hands aims to expand its team, build protocol, and audit its code. Recently there is a group of six working for Panoptic, and the firm is in search of two more.

Also Read: Matrixport Seeks $100 Million at a Valuation of $ 1.5 Billion

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