The platform for trading futures, options and other derivative contracts for cryptocurrencies Delta raised $ 5 million as a result of a private token sale.
We’re glad to share that Delta has closed $ 5 Million in private sale of $ DETO
We’re grateful to have marquee investors: @AaveAave , @KyberNetwork , @SinoGlobalCap , @TheSpartanGroup , @LunexVC , @CoinFund_io , @ G1_Ventures , @CryptosGumi , QSN & @brcapital_fund https://t.co/yLnoSE7luz– Delta Exchange – Bitcoin & Altcoin Derivatives (@Delta_Exchange)
The funding round was led by Sino Global Capital with contributions from Aave Ventures, Kyber Network, Spartan Group, gumi Cryptos Capital, QCP Soteria and other investment firms.
Delta CEO Pankaj Balani told The Block that the platform will spend the funds raised on a marketing campaign.
In exchange for investments, venture funds received the native DETO exchange token, which is traded in tandem with Tether (USDT). Delta plans to expand spot trading pairs for Bitcoin and other cryptocurrencies.
DETO will act as a reward for liquidity providers following the example of decentralized financing protocols. They can also pay trading fees and use them as collateral in the future.
Recall that in March, the protocol for creating and trading derivatives on the Vega decentralized network raised $ 5 million following a funding round.
Earlier, the Chicago Mercantile Exchange announced the launch on May 3 of a new product based on the first cryptocurrency – Micro Bitcoin futures , awaiting regulatory approval.