SINGAPORE / ACCESSWIRE / January, 14, 2022 / Friktion Labs, the development organization building Friktion - a Solana-based options and structured product protocol, has concluded a $5.5 million capital raise. Investors of the round include Jump Crypto, DeFiance Capital, Pillar VC, Libertus Capital, Delphi Ventures, Sino Global Capital, Tribe Capital, Castle Island Ventures, Dialectic, Petrock Capital, Solana Ventures, and other angels.
Friktion has also brought on board its platform, a group of industry-leading derivatives traders and market makers in Genesis Trading, Alameda Research, LedgerPrime, QCP Capital, CMS Holdings, Orthogonal Trading, and GSR. As of writing, Friktion is currently Solana's largest options and structured products protocol with over $100 million deposited across 2 strategies (Volts), supporting over 11 top crypto assets.
Friktion's latest round of funding will be deployed into building Circuits, a liquidity and portfolio management system built to drive long-term capital inflows and return generation for DAOs. Circuits enable a new generation of risk-aware DAOs - responsible for maximizing long-term value and managing capital Current. Circuits are powered by Volts, Friktion's native return generation strategies and Inductors, balancers and optimizers of Current. Moving forward, these Circuits will enable users to access curated portfolio construction and risk management solutions.
"The DeFi market needs alternative ways to generate sustainable yields (beyond yield farming) and we are excited about Friktion's structured products offerings", says founder of Defiance Capital, Arthur Cheong.
Friktion will also be launching itsDAO Taskforce grants program, targeting Research Collaborators, Quant Research & Analytics, and User Research experts, a bug bounty program, and an Ecosystem Fund focused on development of the Solana ecosystem.
Friktion is Solana's largest portfolio and risk manager - built for individuals, DAOs, and Institutional Asset Managers to generate returns across market cycles.