Satori, a San Francisco, CA-based provider of a decentralized derivatives platform for Polkadot, raised $10M in Seed funding.
The round was led by Polychain Capital and Blockchange Ventures with participation from Jump Crypto, Gavin Wood, Coinbase Ventures, Portal, Acala, Astar, Parallel, and Clover.
The company intends to use the funds to expand headcount specifically on the engineering end, as well as build out and solidify its security and reliability team to support institutional grade derivatives.
Led by experienced financial professionals, including co-founders Rahim Noorani (previously at Goldman Sachs and Scale Ventures), and George Wu (previously at Optiver), Satori is an on-chain derivatives exchange built for both retail and institutional investors in the Polkadot ecosystem. Geared towards experienced traders, the exchange is allowing investors to exploit the potential of DOT by giving traders access to their own, dedicated derivatives platform—working with parachains, market makers, and retail users across the ecosystem.
Satori will launch to the public in the coming weeks and will be available for users across Moonbeam, Acala, Parallel, Astar, and Clover.