February 14, 2022 – Barcelona, Spain
The proceeds of the sale will go toward development costs and continued support of web 3.0 public goods.
Potion Unlock, a novel release model for decentralized protocols registered sales of $12 million last January, from renowned DeFi firms and individuals. The Potion Labs team behind the project had previously raised $3.2 million in August 2020 from top-tier DeFi investment firms.
The project attracted interest from experienced DeFi parties such as Polychain, Placeholder, Pantera, Maven 11, The LAO, MetaCartelVentures, ParaFi, Spartan, Robert Leshner and Tarun Chitra, Fernando Martinelli, Synthetix founders, Crypto Plaza, Roble VC, CULTUR3, Lemniscap, Zee Prime and beToken Capital, among other reputed parties in DeFi.
The $12 million sale is part of a limited pre-release of an upcoming NFT collection that is about to launch as part of ‘Potion Unlock,’ a novel on-chain community consensus challenge that will take all the protocol code into the public domain. The game is aimed at accelerating decentralization while creating a well-defined regulatory framework for dev teams and participants.
In addition to this initial sale, a broader public NFT sale will also take place and be open to the wider community. Finally, a percentage of the collection is also being made available to project OG members, who will get an allocation of NFTs in recognition for their contributions to the community.
The team plans to continue doing research and development in the web 3.0 space and is committed to continue working on radically new and high-quality public goods.
Guillem Mosquera, co-founder and CTO of PotionLabs, said,
“We are excited about the opportunity to introduce a new class of services built from the ground up by the community for the community. We believe in a community-first approach to creating radically new technology aimed at helping users in DeFi manage the risk of their assets in a simple and reliable way.”
Jordi Muñoz, co-founder and CEO of PotionLabs, said,
“We are deeply grateful to all the great ecosystem community members who decided to support our vision and team at this crucial step. We are experimenting with new approaches to sustainable web 3.0 public good funding, and are lucky to have innovative supporters in our community willing to enable our explorations. We are excited for them to continue playing a key role in this project’s community and beyond.”
Chris Burniske, partner at Placeholder, said,
“Extremely sophisticated on the backend [and] surprisingly simple on the front end, Potion ushers in a new era of risk management for DeFi liquidity providers (LPs) and consumers. By using the Kelly Criterion, Potion allows LPs to optimally price options according to their desired risk and yield parameters. Then by aggregating all individual LP curves, Potion offers the best-priced options to the consumer. When people say DeFi 2.0, Potion sits at the top of that list.”
About PotionLabs
PotionLabs is a web 3.0 native research and software development company that has developed a robust risk management layer for crypto assets the Potion Protocol. It pioneers a new risk pricing model based on the Kelly Criterion that results in long-term survival mathematical expectations for LPs and deeper, more reliable liquidity markets for users. The project is launching shortly through a release mechanism based on NFTs. More on Potion.Finance here.
Contact
This content is sponsored and should be regarded as promotional material. Opinions and statements expressed herein are those of the author and do not reflect the opinions of The Daily Hodl. The Daily Hodl is not a subsidiary of or owned by any ICOs, blockchain startups or companies that advertise on our platform. Investors should do their due diligence before making any high-risk investments in any ICOs, blockchain startups or cryptocurrencies. Please be advised that your investments are at your own risk, and any losses you may incur are your responsibility.
Follow Us on Twitter Facebook Telegram
The post PotionLabs Closes Sales of $12 Million From Key DeFi Players Ahead of Novel NFT Game ‘Potion Unlock’ appeared first on The Daily Hodl.
