Thetanuts Finance Gets $18M in Seed Funding To Flesh Out DeFi Platform

DeFi protocol Thetanuts Finance said it will use its fresh injection of capital to build two new proprietary products for the crypto options market

article-image

Blockworks exclusive art by axel rangel

share

key takeaways

  • Thetanuts Finance its hoping to redefine the crypto options market by offering users the ability to earn a high base yield on their digital assets
  • The relatively new DeFi protocol is planning to introduce two new proprietary additions to the platforms suite of existing products

Crypto derivatives platform Thetanuts Finance announced Tuesday the closure of an $18 million seed round slated for the build-out of what it is labeling as “innovative DeFi structured products.”

The round, led by Three Arrows Capital, Deribit, QCP Capital and Jump Crypto, will be used to “supercharge” the development of Thetanut’s crypto derivatives ecosystem, according to a press release.

Thetanuts offers structured products that accept tokens from 11 chains as collateral while simultaneously providing users access to risk-adjusted yield opportunities in new options markets across multiple blockchains, the platform said.

The platform is a relatively new protocol aiming to provide users access to crypto-structured products on multiple decentralized networks to generate a favorable return. Thetanuts argues its products will help with the creation of “new option markets” in DeFi (decentralized finance) while delivering sustainable returns to users via option selling.

Structured products being developed by Thetanuts will leverage the team’s hedge fund managerial expertise as well as financial analysts and smart contract developers. The idea will be to introduce two proprietary additions to the platform’s suite of existing products.

Those two additions include Theta-Index, a basket of select options, and Theta-Wheel, physically settled vaults that alternate between calls and puts. Theta-Wheel enables investors to “buy low and sell high” while earning premiums, according to the release.

“Thetanuts provides a nimble solution to allow teams to participate quickly and scale for their communities,” said John Jansen, CEO of crypto exchange Deribit.

“The automated nature of Theta-Index vaults significantly reduces the complexity of yield generation, is user-friendly, and leads to increased demand flow into OTC trading and CeFi.”

Thetanuts currently runs 6 to 10 delta strategies on covered calls for ETH and BTC with a strike at 25% above spot, based on prevailing market rates on the crypto exchange Deribit, according to its whitepaper. Conversely, a strike price for the same strategies and assets on covered puts is set at 20%.


Get the news in your inbox. Explore Blockworks newsletters:

Tags

Upcoming Events

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

Industry City | Brooklyn, NY

TUES - THURS, JUNE 24 - 26, 2025

Permissionless IV serves as the definitive gathering for crypto’s technical founders, developers, and builders to come together and create the future.If you’re ready to shape the future of crypto, Permissionless IV is where it happens.

Brooklyn, NY

SUN - MON, JUN. 22 - 23, 2025

Blockworks and Cracked Labs are teaming up for the third installment of the Permissionless Hackathon, happening June 22–23, 2025 in Brooklyn, NY. This is a 36-hour IRL builder sprint where developers, designers, and creatives ship real projects solving real problems across […]

recent research

Research Report Templates.png

Research

The convergence of DePIN and energy generation aims to address modern grid challenges by incentivizing distributed generation.

article-image

The deal is made up of $700 million in cash and 11 million shares of Coinbase’s Class A common stock

article-image

Blockworks Research uses numbers to help crypto advance to a higher stage of storytelling

article-image

While Arizona’s governor could veto another crypto reserve bill, similar North Carolina and Texas laws are approaching the finish line

article-image

However, they noted there’s now an increased risk that unemployment and inflation will rise in the coming months. 

article-image

The network’s most ambitious upgrade since the Merge brings validator streamlining, smart account UX and doubled blobspace to Ethereum