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DeFi Protocol Perennial Launches with $12M Fundraise

Perennial, a decentralized finance (DeFi)-native derivatives protocol, has gone live with a $12 million seed funding round led by Polychain Capital and Variant. The capital raise happened earlier this year, but the recent collapse of centralized exchange FTX has put increased focus on risk mitigation, liquidity and DeFi projects.

Other investors in the round included Archetype, Scalar Capital, Robot Ventures, Coinbase Ventures, a.capital and a number of angel investors, according to a draft Medium post provided to CoinDesk.

(by Brandy Betz)

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