Synthetic asset protocol for Polygon raises $1.5M from major investors

Synthetic asset protocol for Polygon raises $1.5M from major investors

Polysynth, a Polygon-based synthetic asset platform, has secured investments from a number of DeFi venture capital firms and angel investors.

The team announced a $1.5 million funding round as part of its seed round on Nov. 15, revealing participation from Jump Capital, DeFi Alliance, Hashed, and a number of individuals such as Alan Howard, co-founder of Brevan Howard Asset Management, and Polygon’s co-founders Sandeep Nailwal and Jaynti Kanani.

Polysynth stated that it would be using the funding to expand its team of engineers, designers, and marketers, in addition to carrying out security audits for the protocol.

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The platform is currently in beta, testing just a handful of assets including BTC, ETH, and MATIC perpetual futures. When live on mainnet, the protocol aims to build out derivatives for

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