DeFi derivatives protocol Perennial raises $12 million co-led by Polychain Capital and Variant

12/07 15:26

According to The Block, Perennial, a decentralized finance protocol for trading derivatives, raised $12 million in a seed funding round. Polychain Capital and Variant co-led the round, with Archetype, Coinbase Ventures, Scalar Capital, Robot Ventures and others participating. The project has launched its mainnet. Perennial was co-founded by Kevin Britz and Arjun Rao. Before Perennial, the duo also co-founded Astro Wallet in 2017, which was acquired by Coinbase in 2019. Both are still working for Coinbase in an advisory capacity.
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