We are extremely pleased to announce our private token presale has closed with $4.7 million raised. The round was led by Pantera Capital and joined by Framework Ventures, CMS Holdings, Boxone, QCP Capital, LedgerPrime, Taureon Capital, Signum Capital, Astronaut Capital, Acheron Trading, AGE Crypto, 3Commas as well as prominent founders Kain Warwick of Synthetix, Loi Luu of Kyber Network, and Bobby Ong of CoinGecko.
Receiving backing from this group of top tier investors is a significant step towards realizing the PowerTrade vision of building the easiest mobile platform to trade crypto options and other crypto derivatives.
The funds will enable us to grow the PowerTrade team (open positions listed here) and platform which is set to be released in the coming months (sign up for early access here).
PowerTrade’s Founder Mario Gomez Lozada commented on the raise,
“Crypto options is the next logical step in the development of crypto financial markets both at the institutional and retail level. We chose to focus on retail with an easy-to-use platform, as there are significant untapped opportunities to grow this market, and we look forward to working with our investors and partners to grow this segment.”
Joey Krug of Pantera Capital commented:
“Easy to understand options are key to further retail adoption of crypto. It's one of the reasons so many people have adopted Robinhood and I believe PowerTrade can bring a similar user experience to the crypto market.”
The PowerTrade Fuel token further innovates on the exchange insurance fund model by creating a DeFi alternative: a DAO that governs a treasury which covers any shortfalls on the exchange. The governance token (symbol: PTF) is expected to initially list on Bitmax Sept 24, 2020, after a community presale on Sept 22, 2020.
The PowerTrade app will enter closed beta in October 2020, and release to the public in Q4 2020. Traders can register to access the private beta at Power.Trade
We are very excited to build the future of crypto options with our backers and the PowerTrade community. You can get early access to PowerTrade by joining our waitlist and participating in the discussion on telegram or discord.