Uniswap-based Panoptic protocol raises $4.5 million

Panoptic, a project focused on perpetual options trading solutions, has raised $4.5 million in seed funding, The Block reports.

The round was led by Gumi Cryptos Capital. Participants included Uniswap Labs Ventures, Coinbase Ventures, Jane Street, and the Blizzard Fund of the Avalanche Foundation.

The project was founded in July this year. Panoptic’s founders are Jesper Christensen, former head of research at Advanced Blockchain AG, and Guillaume Lambert, a professor of applied physics at Cornell University. The developers say that the first version of the platform will be based on the Uniswap automated market maker (AMM) mechanism from Uniswap.

“We can integrate with other AMMs with concentrated liquidity, if and when necessary,” Christensen said.

The funds will be used to expand the team, continue work on the protocol, and audit the code.

The platform is expected to launch in the first quarter of next year.

Back in November, the Cosmos-based Onomy Protocol raised $10 million.

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