Exotic Markets Closed $5 Million in Financing Led by Multicoin Capital and Ascensive Assets

TokenInsight news, DeFi protocol Exotic Markets closed $5 million in funding through a token sale led by Multicoin Capital and Ascensive Assets, with participation from Alameda Research, Animoca Brands, Solana Capital and others. The funds raised will reportedly be used to strengthen the team and marketing efforts, with a portion of the funding used for market-making activities on the platform to help drive the main network, which is scheduled to launch in late February, with a development test network expected to launch later this month. Solana-based Exotic Markets aims to offer a range of structured products that can create income opportunities for investors denominated in stablecoins rather than governance tokens. Its platform governance token is $EXO.