On-chain derivatives protocol Smilee completes $2 million seed round financing

ChainCatcher news, the on-chain derivatives protocol Smilee Finance announced the completion of a $2 million seed round financing, led by Dialectic, with participation from Synergis Capital, Concave Ventures, Owl Ventures, Yunt Capital, Dewhales Capital, Outlier Ventures, New Order, Multisig Ventures, and GTS Ventures, as well as angel investors including Marc Zeller (Aave integration lead), Barry Fried, 0xSami, Darren Camas, and Slappjakke.

Smilee supports volatility-based products and strategies by modeling liquidity providers as option sellers, converting impermanent loss (IL) into an options portfolio to create any type of volatility-based yield. (Source link)