Satori Raises $10M, Led by Polychain and Blockchange, Bringing Decentralized Derivatives to Polkadot
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, one of its largest ecosystems, DOT, has been continuously left out from these opportunities to gain. With this, how might we introduce derivatives trading to transform the Polkadot network?
As we spoke with parachains, market makers, and retail users across the Polkadot ecosystem, we found that there is not only a desire but a fundamental need for DOT holders to have access to derivatives and unlock the untapped potential of their DOT (10% of which is currently blocked from use). That’s why we are excited to help users across the Polkadot community leverage these powerful tools with Satori, the first on-chain derivatives 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. This mission to unite our users is why we’re designing a hybrid orderbook and automated market maker (AMM) model. While client-side users can benefit from the execution of both orderbook and AMMs, 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, Gavin Wood, Coinbase Ventures, Portal, leading parachains — Acala, Astar, Parallel, Clover — 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 Moonbeam, Acala, Parallel, Astar, and Clover in the coming weeks.
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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