Satori Raises $10M, Led by Polychain and Blockchange, Bringing Decentralized Derivatives to zkEVMs
Having traded equity, interest rate, and commodity derivatives over the past four years at Optiver, one of the world’s leading market makers, I have witnessed the power of derivatives firsthand. I have seen traders discover a new freedom with derivatives, expressing their opinions on the markets and capturing inefficiencies through sophisticated financial transactions that just can’t be found in spot markets. Derivatives open the door for individuals to magnify their earnings by 100 times or more through leverage, while at the same time allowing users the flexibility to formulate payoff and risk profiles tailored to their needs — all with the benefit of better price discovery.
In recent years, derivatives have made large strides in the crypto space, however, historically we have had to rely on centralized institutions to trade these financial instruments. There are a variety of reasons why we rely on centralized exchanges: they allow for privacy in trading, usually have better APIs, and provide more depth / liquidity than their on-chain counterparts. We started Satori with the mission to create a better on-chain derivatives platform powered by a central limit order book rather than relying on an AMM which is not suited for serious trading.
As we spoke with market makers and retail users across the web3 ecosystem, we found an opportunity to reinvent the derivatives market by using technology that zkEVMs enable. That’s why we are excited to help users across the zkEVM landscape leverage these powerful tools with Satori, the first on-chain derivatives orderbook exchange built for both retail and institutional investors.
We built Satori to act as an exchange platform that caters to all users, where retail and institutional investors are able to converge. While client-side users can benefit from the execution of the orderbook along with a simple UI, those on the institutional side can enjoy a robust exchange experience with ready-to-use APIs, lightning-fast execution, and resilience against even the most extreme market events. Our mission, ultimately, is to create a future of derivatives trading that is open to all.
In bringing this vision to life, we’re thrilled to announce that Satori has raised $10M in seed round funding led by Polychain and Blockchange, along with Jump Crypto, Coinbase Ventures, Portal, and a number of incredible angel investors. Thanks to their belief in and support of Satori’s mission, we are preparing to publicly launch and welcome users across Polygon, zkSync and Scroll in the coming weeks. In order to sign up for our waitlist please visit: https://satori.finance/waitlist#waitlistForm
If you are excited about building the future of decentralized derivatives trading, let us know by shooting us an email at email@example.com — we would love to have you join us.
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