DeFi protocol Perennial has raised $12 million in its funding round.
The funding round was led by Polychain Capital, Variant, Archetype, Coinbase Ventures, Scalar Capital, Robot Ventures, and other contributors.
DeFi Protocol Perennial’s Mainnet Launched
Perennial was co-founded by Kevin Britz and Arjun Rao. The duo previously founded Astro Wallet, which was acquired by Coinbase in 2017. Briztz and Rao still serve as consultants for Coinbase.
Britz said:
The mainnet launch is initially offering long-ether, short-ether and long-squeeth.
Blitz continued:
It was not specified whether the funds were raised through stock or token rounds. Britz stated that there is currently no token of the Perennial protocol.
Britz declined to comment on how many people are currently working on the protocol.