Rysk Finance last month raised $1.4 million in a pre-seed funding round led by Lemniscap and participated by Encode Club, Ascensive Assets, Starbloom, Yunt Capital, Manifold Trading, and angel investors Hype.eth and Ivangbi, among others.
Rysk Finance aims to resolve the complexity of DeFi derivatives market making and provide liquidity providers with higher returns per unit of risk taken. The company’s Dynamic Hedging Vault (DHV) is a self-governing options AMM that generates uncorrelated returns by trading options.
The company plans to use the funding to enhance platform security, drive engineering and research efforts, and launch Rysk Beyond, a decentralized market maker protocol for options trading.
Co-Founder of Rysk Finance, Dan Ugolini, said that as DeFi natives, they aspire to actively contribute to a vast ecosystem of sustainable risk-adjusted yield products with various market conditions. The recent funding round is an important milestone in their journey to become the most liquid on-chain market maker for DeFi derivatives.
Rysk Beyond will provide users with a tailored options AMM experience by allowing them to buy and sell options on multiple expiries and strikes with tight bid/ask price and higher capital efficiency.
The protocol will also allow users to construct bespoke options strategies in one transaction, including call/put spreads, strangles and butterflies, and engage in term structure plays. The launch of Rysk Beyond will spur integrations with DeFi protocols, treasuries and instruments such as perpetuals, futures, and options.
The company aims to become the most liquid on-chain market maker for DeFi derivatives.
Founder of Lemniscap, Roderik van der Graaf, said that Rysk has a strong understanding of DeFi market dynamics and is developing a solution that is set to redefine DeFi risk innovation. He is confident in the team’s capabilities and supports their vision to deliver on-chain market making for DeFi derivatives.
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