DeFi Platform Thetanuts Finance Raises $18M Seed Funding to Fuel Growth

Decentralized finance (DeFi) firm Thetanuts Finance has raised $18 million in seed funding to drive the development of user-friendly products on its platform.

• The funding round was led by Three Arrows Capital, Deribit, QCP Capital and Jump Crypto, Thetanuts announced on Tuesday. DeFi is an umbrella term used to describe lending, trading and other financial activities carried out on a blockchain without traditional middlemen.
• Thetanuts Finance offers products that accept tokens from 11 blockchains as collateral, with the aim of offering the most competitive risk-adjusted yield opportunities.
• Among its main products are the Theta] Index, an option basket offering automated yield generation, and Theta Wheel, physically settled vaults aiming to help investors "buy low and sell high."
• "With Theta Index and Theta Wheel, we are hoping to empower retail and institutional investors to earn significantly higher yield which is organically generated through options strategies," Thetanuts said.

Read more: DeFi Project Ref Finance Closes $4.8M Round Led by Jump Crypto