DeFi derivatives protocol Perennial completes $12 million funding, led by Polychain Capital and Variant

ChainCatcher news, according to The Block, DeFi derivatives protocol Perennial has completed a $12 million seed round financing, co-led by Polychain Capital and Variant, with participation from Archetype, Coinbase Ventures, Scalar Capital, Robot Ventures, and others.

Perennial was co-founded by Kevin Britz and Arjun Rao, and the protocol has not yet issued a token. Before Perennial, the two co-founded Astro Wallet in 2017, which was acquired by Coinbase in 2019. Britz stated that they are still working as advisors for Coinbase. (The Block)