Tracer DAO raises $4.5M to launch derivatives for something ‘with an oracle feed’

Tracer DAO has raised $4.5 million from the likes Framework Ventures, Maven 11, and Apollo Capital.
Decentralized derivatives platform, Tracer DAO, has introduced a profitable $4.5 million fundraising spherical to develop its staff and product suite.They hope to launch revolutionary derivatives for “any market with an oracle price feed,” with plans to in the future permit strange customers to hedge the price of commuting and different family payments utilizing tokenized derivatives.This week’s increase noticed participation from crypto enterprise heavyweights, together with Framework Ventures, Maven 11, DACM, and Apollo Capital. The buyers will share 10% of the mission’s governance token provide, which might be vested linearly over two years.Speaking to Cointelegraph, Pat McNab, Tracer DAO founder and co-founder of Mycelium — the Australian growth staff working to construct Tracer DAO — emphasised that the staff is presently working to launch v1 of its open-source perpetual swap contracts to Arbitrum mainnet within the coming months. McNab described the swaps as standing out from the competitors by way of its “highly capital efficient” design and distinctive insurance coverage pool that enables anybody to “become an insurer for the protocol and earn interest.”“For each perpetual swap market there will be an underlying insurance pool […] that insurance pool collects funding payments in the form of an interest rate paid by traders,” he mentioned, including:“If a trader goes under margin and there is counterparty risk, this is when the insurers funds will have to be used.”Tracer can be presently working to launch leveraged tokens, predicting they may go dwell earlier than the top of the yr. The staff additionally plans to carry a public increase through Gnosis Auction within the coming months.Looking ahead, Tracer articulates a daring mission of enabling derivatives for “any market that has an oracle feed,” with McNab emphasizing the chance to make use of cryptocurrency to unlock new markets tied to real-world belongings.“We’re working with Chainlink currently on trying to aggregate fuel pricing data or gas pricing data around different jurisdictions such that, say, in a neo-banking app, consumers can effectively budget for their fuel consumption by buying into a derivatives position using a perpetual swap contract,” he mentioned.“Our vision for price feeds, especially in the real world […] will certainly tend down the path of having consumers able to hedge their consumption to local goods markets.”McNab added that Tracer is presently working with the Royal Melbourne Institute of Technology to “unpack how the water markets work within Australia, especially to determine if we can create more ways for people to effectively manage their risk when it comes to consuming water on a day-to-day basis.”
Source: CoinTelegraph.com