Potion Labs generates $12M in sales ahead of novel NFT game Potion Unlock – Cointelegraph

potion-labs-generates-$12m-in-sales-ahead-of-novel-nft-game-potion-unlock-–-cointelegraph

Barcelona, Spain — Potion Unlock, a novel release game by Potion Protocol, registered $12 million in sales last January from renowned decentralized finance (DeFi) firms and individuals. The Potion Labs team behind the project had previously raised $3.2 million in August 2020 from top-tier DeFi investment firms.

The project attracted interest from experienced DeFi parties, including Polychain Capital, Placeholder, Pantera, Maven 11, The Lao, MetaCartel Ventures, ParaFi Capital, Spartan Group, Compound Labs founder Robert Leshner, Gauntlet Networks founder Tarun Chitra, Balancer Labs founder Fernando Martinelli, Synthetix, Crypto Plaza, Roble Ventures, Cultur3, Lemniscap, Zee Prime and BeToken Capital.

The $12-million sale is part of a limited prerelease of an upcoming nonfungible token (NFT) collection about to launch as part of Potion Unlock, a game and novel on-chain community consensus challenge that will take all the protocol code into the public domain. The game is aimed at accelerating decentralization while creating a well-defined regulatory framework for developer teams and participants.

In addition to this initial sale, a broader public NFT sale will also be open to the community. Finally, a percentage of the collection is also being made available to the original project supporters who will receive an allocation of NFTs in recognition of their contributions to the community.

The team plans to continue researching and developing in the Web3 space and is committed to working on radically new and high-quality public goods.

“We are excited about the opportunity to introduce a new class of services built from the ground up — by the community, for the community. We believe in a community-first approach to creating radically new technology aimed at helping users in DeFi manage the risk of their assets in a simple and reliable way,” said Guillem Mosquera, co-founder and chief technology officer of Potion Labs. 

“We are deeply grateful to all the great ecosystem community members who decided to support our vision and team at this crucial step. We are experimenting with new approaches to sustainable Web3 public good funding and are lucky to have innovative supporters in our community willing to enable our explorations. We are excited for them to continue playing a key role in this project’s community and beyond,” said Jordi Muñoz, co-founder and CEO of Potion Labs.

“Extremely sophisticated on the back-end, surprisingly simple on the front-end: Potion ushers in a new era of risk management for DeFi liquidity providers (LP) and consumers. By using the Kelly criterion, Potion allows LPs to optimally price options according to their desired risk and yield parameters. Then, by aggregating all individual LP curves, Potion offers the best-priced options to the consumer. When people say DeFi version 2.0, Potion sits at the top of that list,” said Chris Burniske, co-founder of Placeholder.

About Potion Labs

Potion Labs is a Web3-native research and software development company that has developed a robust risk management layer for crypto assets: Potion Protocol. It pioneers a new risk pricing model based on the Kelly criterion that results in long-term survival for LPs and deeper, more reliable liquidity markets for users. The project is launching soon through a release mechanism based on NFTs. Learn more about Potion Protocol here.

Contacts:

  • Andreu Honzawa
  • press@potion.fi

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