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Panoptic, a Uniswap-based decentralized finance protocol for trading perpetual options, raised $4.5 million in a seed funding round. Gumi Cryptos Capital led the round, with Uniswap Labs Ventures, Coinbase Ventures, Jane Street, Avalanche Foundation's Blizzard fund and others participating.
It is reported that the funding was secured via an equity plus token warrant arrangement. The funds raised will be used to expand its team, build its protocol and audit its code.
Panoptic was established in July by Kristensen, a former head of research at Advanced Blockchain AG, and Guillaume Lambert, a professor of applied physics at Cornell University. The first version of Panoptic will be based on Uniswap's automated market maker (AMM). The protocol later intends to support other popular and successful AMMs.
Panoptic is set to launch its platform in the first quarter of next year.
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