Sebastian Sinclair

<div id="highlights-block_621daff26caee" class="highlights">
 <ul>
 <li>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</li>
 <li>The relatively new DeFi protocol is planning to introduce two new proprietary additions to the platforms suite of existing products</li>
 </ul>
 
</div>



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 &#8220;innovative DeFi structured products.&#8221;



The round, led by Three Arrows Capital, Deribit, QCP Capital and Jump Crypto, will be used to &#8220;supercharge&#8221; the development of Thetanut&#8217;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 &#8220;new option markets&#8221; in DeFi (decentralized finance) while delivering sustainable returns to users via option selling.



Structured products being developed by Thetanuts will leverage the team&#8217;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&#8217;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 &#8220;buy low and sell high&#8221; 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.



<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">“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.”</blockquote>



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 <a href="https://docs.thetanuts.finance/strategies/basic-covered-calls" target="_blank" rel="noreferrer noopener">whitepaper</a>. Conversely, a strike price for the same strategies and assets on covered puts is set at 20%.



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