Divergence Protocol, the decentralized platform for volatility-based derivatives, is proud to announce the end of seed and private round fundraising led by KR1 and Mechanism Capital, with participation from Nothing Research, Focus Labs , Arrington Capital, P2P Capital, Orthogonal Trading, Taureon, HashKey Capital, Youbi Capital and Digital Finance Group. Angel investors include Do Kwon from Terra Labs, Diane Dai from DoDo, Sandeep Nailwal from Polygon (Matic) and Igor Barinov from xDai.
A total of $2.9 million has been raised and Divergence would like to express its sincere gratitude to all the investors from different backgrounds as well as the founders of the DeFi protocol for their support in the journey to build decentralized volatility products for DeFi users. This funding allows Divergence to continue its work on development and driving innovation through strategic partnerships with various ecosystems.
“One of the big problems of cryptocurrencies is extreme volatility and Divergence offers an innovative solution for Liquidity Providers, Market Makers and passionate community members to enable them to profit from volatility with greater capital efficiency. With an impressive team, solid incentives and great mission, Divergence is part of a new era of the DeFi movement,” said Keld van Schreven, co-founder of KR1.
“Volatility indices and their derivatives are major markets, often traded in traditional finance. In traditional markets, they are often used to protect exposure to the broader market,” said Andrew Kang, Managing Partner of Mechanism Capital. “Divergence is building volatility products to serve a similar necessary purpose in DeFi. Volatility instruments in cryptocurrencies can be used to hedge market risk and help liquidity providers generate more consistent yields.”
Divergence is excited to be at the forefront of the decentralized derivatives space and looks forward to how the community and market will evolve in the coming years.
To keep up to date with the latest information on Divergence Protocol, join the project’s Telegram community here: Announcement Channel | Discussion Channel
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