A new derivatives platform announced raising $8.5 million on Wednesday, part of an effort to overcome the ecosystem-wide reluctance in decentralized finance (DeFi) to embrace more complex financial instruments. Strips Finance, a fixed-income platform, raised the funds via a token sale with participation from Multicoin Capital, Sequoia Capital India, Fabric Ventures and Morningstar Capital. Strips is planning to launch in November with initial functionality that will enable interest rate swaps (IRSs) via automated market makers (AMMs), the decentralized exchanges over which much of DeFi is t
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Strips Finance is the world’s first decentralized interest rate margin trading platform. Interest rate swaps (IRS) allow participants to swap variable APY% for fixed APY% instantly.