Tokenized asset platform Synthetix received a $15M investment in the form of the purchase of its native token by quantitative trading firm DWF Labs.
The firm would also have the option to purchase another $5M in tokens upon the integration of Synthetix’s services.
- DFW Labs used USDC to complete the transaction.
- Synthetix tokenizes real-world assets into derivatives through smart contracts.
- The protocol surpassed $400M in perpetual swap daily trade volume in Mar. 2023, per Dune Analytics data.
- The Australian-based company raised a $12M venture round in Dec. 2020 with participation from Coinbase Ventures, IOSG Ventures, and Paradigm.
