Phuture Raises $1.5m in Seed Funding to Launch Indexing Protocol on Ethereum
Phuture is a decentralised protocol built for the creation and investment of passive index strategies in a Web3 environment. Today, we are proud to announced that we have completed our private seed round fundraise. The round , led by Ascensive Assets, raised a total of $1.5 million.
The capital raised, will be used to fund the continued development of Phuture as we move towards our upcoming v1 launch, as well as building out the ecosystem; including the Phuture team, partner integrations and early user base.
Once we go live, Phuture will introduce an open design philosophy for creating passive investment strategies. Designed from the ground up to be intuitive to both crypto and non-crypto native users, Phuture provides the tools to create new indices, or invest into existing ones created by the community. The Index Creator can support an array of index options including automated sector tracking and dynamic weighting methodologies. The Phuture protocol introduces a unique, scalable, aggregated index architecture that allows it to rebalance across multiple indices simultaneously. Its smart rebalancing engine dynamically ascertains the optimal rebalancing triggers, minimising value lost through swaps and improving index performance.
The round included several prominent blockchain investors, including: NGC Ventures, SevenX, Moonrock Capital, Origin Capital, Waterdrip Capital, and D64.
Other backers included Genblock Capital, Decentralabs, Synergia, Vendetta Capital, Richard Ma (CEO of QuantStamp), Danish Chaudry (CEO of Bitcoin.com Exchange), and leading liquidity provider Skynet Trading.
Join the community and be a part of the Phuture of indexing!