Panoptic Completes Seed Funding Round with $4.5 Million

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In a seed fundraising round, $4.5 million was received for Panoptic, a decentralized finance system for trading perpetual options built on Uniswap. It was financed using an equity and token warrant structure.


Investors such as Uniswap Labs Ventures, Coinbase Ventures, Jane Street, the Blizzard Fund at the Avalanche Foundation, and Gumi Crypto Capital participated in the seed round.


Kristensen, Advanced Blockchain AG's head of research and development,  founded Panoptic in June. Kristensen said Uniswap's automated market maker would serve as the foundation for the first release of Panoptic (AMM).


According to estimates, Panoptic will debut in the first quarter of 2019. After that, it's meant to back up other well-known AMMs. As an added bonus, Kristensen said that they are able to combine with other AMMs that focus on focused liquidity.


Kristensen said that now that it has access to new funding, Panoptic plans to hire more people, create a formal procedure, and have its code reviewed. Panoptic currently has a staff of six people and is looking to add two more.


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Crypto

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