{"id":35827,"date":"2021-02-04T09:45:11","date_gmt":"2021-02-04T07:45:11","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=35827"},"modified":"2025-08-29T03:10:48","modified_gmt":"2025-08-29T00:10:48","slug":"opyn-a-defi-options-platform-raises-6-7-million","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/opyn-a-defi-options-platform-raises-6-7-million\/","title":{"rendered":"Opyn, a DeFi options platform, raises $6.7 million"},"content":{"rendered":"<p>The decentralized options platform Opyn raised $6.7 million in a Series A round.<!--more--><\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">We\u2019re excited to announce that Opyn has raised a $6.7mm Series A round led by <a href=\"https:\/\/twitter.com\/paradigm?ref_src=twsrc%5Etfw\">@paradigm<\/a> <a href=\"https:\/\/t.co\/lEVMxUWf49\">https:\/\/t.co\/lEVMxUWf49<\/a><\/p>\n<p>\u2014 opyn (@opyn_) <a href=\"https:\/\/twitter.com\/opyn_\/status\/1357019918236008449?ref_src=twsrc%5Etfw\">February 3, 2021<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The round was led by venture firm Paradigm. It also saw participation from Synthetix co-founder Kane Warwick and Stani Kulechov, head of the DeFi project Aave.<\/p>\n<blockquote>\n<p>&#8220;The funds will be used to advance the development and security of the Gamma protocol, as well as to expand the Opyn team. We will focus on key research and recruiting new developers,&#8221; said Zubin Koticha, CEO and co-founder of Opyn.<\/p>\n<\/blockquote>\n<p>The alpha version of the options platform was launched in summer 2019. The current version of the protocol \u2014 Opyn v2 \u2014 <a href=\"https:\/\/medium.com\/opyn\/opyn-v2-is-live-11347240b46e\" target=\"_blank\" rel=\"noopener noreferrer\">has been live since December<\/a>.<\/p>\n<blockquote>\n<p>&#8220;Options are a key pillar of financial markets. We are extremely excited to help the team explore such cutting-edge directions as capital efficiency, the development of automated market maker mechanisms, and scaling,&#8221; said Matt Huang, co-founder of Paradigm.<\/p>\n<\/blockquote>\n<p>In summer 2020 Opyn raised $2.16 million in a seed round led by Dragonfly Capital. It also saw participation from Compound founder Robert Leshner and former Coinbase CTO Balaji Srinivasan.<\/p>\n<p>As a reminder, in August hackers <a href=\"https:\/\/u1f987.com\/en\/news\/defi-platform-opyn-loses-371000-in-hack\">withdrew around $371,000<\/a> from Opyn, exploiting a vulnerability in the project\\&#8217;s internal token.<\/p>\n<p>Subscribe to ForkLog news on Telegram: <a href=\"https:\/\/t.me\/forkloglive\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">ForkLog FEED<\/a> \u2014 all the latest news, <a href=\"https:\/\/telegram.me\/forklog\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">ForkLog<\/a> \u2014 the most important news and polls.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The decentralized Opyn options platform raised $6.7 million in a Series A round.<\/p>\n","protected":false},"author":1,"featured_media":35828,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1168,1093,1133],"class_list":["post-35827","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-crypto-derivatives","tag-defi","tag-venture-investments"],"aioseo_notices":[],"amp_enabled":true,"views":"19","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/35827","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=35827"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/35827\/revisions"}],"predecessor-version":[{"id":35829,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/35827\/revisions\/35829"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/35828"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=35827"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=35827"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=35827"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}