The startup has developed a decentralized finance platform that enables the creation and management of non-fungible token (NFT) economies through a decentralized NFT options protocol. This platform provides traders with access to market data on securities and NFT tokens, allowing them to generate stable income by leveraging market volatility through options trading.
Funding
$4.6M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Existing decentralized exchanges often lack support for long-tail crypto assets like memecoins, and traditional perpetual contracts may not accurately reflect their value. This makes it difficult for users to effectively trade and earn yield on these assets with leverage while maintaining custody of the underlying tokens.
Solution
Wasabi is a decentralized exchange (DEX) that specializes in spot leverage trading and yield generation for culture-focused crypto assets, including memecoins and NFTs. The platform offers up to 10x leverage for trading and up to 300% APR for staking, allowing users to amplify their exposure and returns on these assets. Wasabi utilizes asset-backed derivatives, providing users with the security of holding the underlying asset while benefiting from leverage. The platform also features auto-compounding yield vaults with zero deposit fees, no lock-ups, and no risk of impermanent loss.
Target Audience
Wasabi targets cryptocurrency traders and investors interested in trading and earning yield on memecoins, NFTs, and other culture-focused crypto assets with leverage.
Features
- Spot leverage trading with up to 10x leverage on memecoins and other culture-focused assets
- Auto-compounding yield vaults with high APRs and no impermanent loss
- Support for a wide range of assets, including long-tail tokens
- Asset-backed derivatives for secure leverage trading
- Zero fees on deposits and no lock-ups for yield vaults
- Wasabi Points rewards system for trading and liquidity provision
- Smart routing for efficient token swaps