Exponent, the first open platform for DeFi Quant trading, is announcing we have closed a $2.7 million seed round to enable asset managers with all levels of sophistication to easily launch and execute in DeFi.
The round is led by KR1, a leading digital asset investment company, and is joined by a network of strategic investors including AngelDAO, Block0, GSR Markets, Golden Gate Ventures, Taureon Capital, Varys Capital, and several prominent blockchain protocol founders and individual investors.
Our vision is to bring financial empowerment and freedom to everyday people on a global scale by empowering the growth of asset management in DeFi. Funds raised will be used to help launch and scale data-driven DeFi Fund as a Service to market. With Exponent, professional strategists will be able to set up shop and execute trades on DeFi with ease, while DeFi users will have convenient access to financial products that match their risk and return appetites.
“Exponent is a next-generation DeFi network for data-driven traders and asset managers. The platform, built on top of Enzyme (prev. Melon), is a much-needed service that takes quant-driven DeFi investing to the next level. Led by a stellar team, we believe Exponent will create an important community of strategists and hedge funds and drive significant value into DeFi. We are tremendously excited to be supporting them on their journey.” said the KR1 team.
The Exponent platform takes care of both DeFi integration and execution, allowing strategists to easily launch active strategies with the supporting tools and infrastructure. Additionally, end-users can choose from a selection of vaults with various alpha strategies while retaining custody of their assets.
“As DeFi use cases continue to expand, ensuring seamless, diversified trading strategies will become increasingly important for participants,” said Jake Dwyer, Head of DeFi, GSR Markets. “The Exponent team is well-equipped to support both strategists and end-users while also helping to fill a gap in the DeFi investing landscape.”
The Exponent team is made up of Web3 and asset management veterans — having shipped production-ready software in the Ethereum Layer 2, dApps, and NFTs space, as well as launched and operated crypto quant and traditional hedge funds.