Thetanuts Finance Closes $17 Million Funding Round Led by Polychain Capital and Others

Thetanuts Finance, a multi-chain structured products protocol, has closed a $17 million funding round led by Polychain Capital, Hyperchain Capital and Magnus Capital. The new funding will help the company create new partnerships with layer 1 and layer 2 networks, liquidity providers, blockchain foundations, market makers, and exchanges.

Thetanuts Finance is a DeFi firm offering a range of crypto structured products, including option traders, DAOs, market makers and other liquidity providers. Users of the platform can earn yield on major cryptocurrencies and popular altcoins, provide liquidity, and execute short and long options strategies.

Thetanuts Finance will soon launch a buy-side altocin options market powered by decentralized options vaults (DOVs), which the firm says will make options strategies – particularly those involving altcoins – available for a wider range of investors.

Previously, Thetanuts Finance closed a seed round in March 2022, led by Three Arrows Capital, Deribit, QCP Capital and Jump Crypto.