Incubation Panoptic closes a funding round of USD 4.5 million

EQS-News: Advanced Blockchain AG / Keywords: Cryptocurrency / Blockchain/Extension
Advanced Blockchain AG: Incubation Panoptic Closes USD 4.5M Funding Round
07.12.2022 / 08:59 CET/CEST
The issuer is solely responsible for the content of this announcement.

Advanced Blockchain AG (Scale, Frankfurt, Primary Market Düsseldorf, XETRA: ISIN DE000A0M93V6) announced that the recently mined project Panoptic was able to raise USD 4.5 million for further development of the protocol. Gumi Cryptos Capital (gCC) led the funding round, followed by Uniswap Labs Ventures, Coinbase Ventures, Jane Street, Avalanche Foundation’s Blizzard Fund and other notable investors.

In exchange for the initial development services and internally generated intellectual property, Advanced Blockchain AG received a high six-figure one-time payment, an equity stake in Panoptic and a warrant for future tokens.

Panoptic is the first decentralized options protocol to master the technically challenging task of implementation on the Ethereum blockchain, and was able to spin out within about nine months of its initial idea. Panoptic plans to launch the platform in the first quarter of next year.

About Panoptic:
Panoptic is an oracle-free, perpetual alternative protocol built on Uniswap V3. Uniswap has seen over USD 1 trillion in trading volume since entering the market in 2017. The Panoptic protocol was developed by Advanced Blockchain AG’s head of research, Jesper Kristensen, in collaboration with co-founder, Guillaume Lambert. The protocol was presented earlier this year at ETHDenver (recording: https://youtu.be/mtd4JphPcuA).

For more information about Panoptic, please visit: https://www.panoptic.xyz/.

About Advanced Blockchain AG:
Advanced Blockchain AG (Scale, Frankfurt, Primary Market Düsseldorf, XETRA: ISIN DE000A0M93V6) is a venture builder and investor in the blockchain industry with an extensive team of analysts, developers, programmers, economists and mathematicians. Advanced Blockchain AG is dedicated to developing the future of Web 3.0 and innovating in various ecosystems and markets in the industry.

For more information about Advanced Blockchain AG, its various projects and investments, please visit https://www.advancedblockchain.com/.

07.12.2022 CET/CEST Dissemination of a company news, transmitted by EQS News – a service of EQS Group AG.
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