Panoptic, a Uniswap-based decentralized finance (DeFi) technology, recently raised $4.5 million to develop a decentralized framework for options trading.

Panoptic recently announced its most recent round of funding led by Gumi Cryptos Capital. Several noteworthy investors followed suit, including Coinbase Ventures, Uniswap Labs Ventures, Avalanche Foundation’s Blizzard Fund, Jane Street, and others. Panoptic’s potential was evident to these significant investors, which signals their belief in Panoptic and their mission of building software solutions for real-world applications.

The financing for the project was secured utilizing a clever combination of value plus tokens to create an effective warrant game plan. This plan was orchestrated by Panoptic COO Jesper Kristensen, who shared the details with The Block. Not only did it allow financing to happen, it also offered additional facilities and further opportunities for growth.

Panoptic is looking to revolutionize decentralized options trading, with plans to build the first version of their platform on Uniswap’s automated market maker (AMM). This approach will provide users with a decentralized crypto spot trading system similar to Uniswap. With decentralized solutions becoming increasingly popular, Panoptic hopes to establish itself as the leading decentralized options trading platform, ensuring access and security are maintained for users at all times.

Panoptic plans to expand its team, build its native protocol, and audit the code. According to Panoptic co-founder Kristensen, the protocol will support several popular and successful AMMs in the later stage of their journey. He added that, at present, six people are working on Panoptic, with plans to add two more in the coming months. The Panoptic platform is set to launch in the first quarter of 2023, signaling an uptick in VC funds for DeFi projects.

Uniswap is a leading decentralized cryptocurrency exchange built on Ethereum.