Cypher Raises $2.1M for Traditional Futures Market on Solana

Cypher Raises .1M for Traditional Futures Market on Solana
Solana’s latest derivatives market is betting “expiratory” futures contracts (aka traditional futures) can make an impact in decentralized finance (DeFi) where the “perpetual” reigns supreme.Cypher, the upstart protocol, plans to start trading synthetic futures contracts tied to restricted assets like pre-public stocks or upcoming token sales as soon as next month, project developers told CoinDesk.It raised $2.1 million from crypto venture firms Sino Global, SkyVision and Blockwall. That amounts to 6% of Cypher’s total governance token issuance, project contributors told CoinDesk.Cypher’s goal is to become an influential outpost for price discovery. Letting investors trade contracts that capture what they believe…