Synthetic Asset Protocol Tapio Closes $4 Million Seed Round Led by Polychain and Others

Tapio, a synthetic asset protocol on Polkadot, has closed a $4 million seed round led by Polychain, Hypersphere and Arrington, with participation from Spartan, LongHash, 0xVentures, CMS and others.

Tapio aims to promote staking and crowd-loan derivatives efficiency on the blockchain protocol Polkadot. In order to unify DOT derivatives into a single asset, Tapio Protocol has come up with tDOT. It is backed by a stable swap liquidity pool comprised of both DOT and DOT derivatives.