Charm reported last Thursday, March 25, through its Twitter account, that it raised the investment of seeds from Divergence Ventures, DeFiance Capital and Delphi Ventures; Therefore, he assured that he hopes to work with his investors to “make Charm and our community grow”.
“Charm Finance, an Automatic Market Maker (AMM) that creates liquidity for decentralized options, recently closed an initial investment round led by Divergence Ventures, with the participation of DeFiance Capital and Delphi Ventures”, he said through an article published in the Medium platform.
According to the company, after achieving a trading volume of $3,800,000 using only $ 580,000 of liquidity, Charm’s efficient capital groups to create, price, trade and settle options, became “one of the platforms of more rapid growth for decentralized options”.
“We are proud to support the Charm team, which has developed a market-leading chain options protocol that enables users to efficiently access liquid, transparent and composable chain option markets. We are confident that on-chain option volumes will grow by several orders of magnitude in the coming years and that the Charm protocol will play a key role in making this happen. In addition, the Charm team is very focused on constant product innovation and putting their community first, values that we greatly admire”, said the Divergence Ventures team.
For its part, the DeFiance Capital team assured that “since we met with the Charm Finance team, we have been impressed by their commitment and dedication as founders. His focus on product quality and original thinking has led to profound innovation within the chain options vertical. As decentralized derivatives grow, we look forward to supporting Max and Tom in their quest to create the optimal options protocol for both users and liquidity providers”.
Finally, Delphi Ventures highlighted that “it is proud to support Charm’s exclusive protocol of peer-to-contract options. Charm encapsulates the kind of zero-to-one innovations only possible through Ethereum / Defi that we at Delphi love to support. Most importantly, investing in dedicated and passionate founders is key, and Max and Tom have proven it”.