NewsAlgorand Foundation pioneers Defi 2.0 with Algo Option Vaults on ThetaNuts

Algorand Foundation pioneers Defi 2.0 with Algo Option Vaults on ThetaNuts


Algorand Foundation

Singapore, November 29th, 2021 - The Algorand Foundation has seeded the largest ever “altcoin” option vaults in DeFi. The ALGO vaults were launched on with QCP Capital as the market maker.

Thetanuts is a Defi derivatives protocol that provides easy access to institutional-grade strategies through structured product vaults. The protocol currently has BTC, ETH and the widest selection of “altcoin” option vaults.

The vaults generate great organic returns through options trading. Coupled with the typical yield from native token incentives, Thetanuts boasts one of the highest APYs around for ALGO.

Algorand has a strong community that is constantly seeking yield on their ALGO and stablecoin holdings. The ALGO vaults provide a new scalable source of alpha through Thetanuts’ hybrid DeFi model , where investment, collateral management and settlement are carried out on-chain while risk and leverage is managed off-chain.

“As early backers of Algorand, QCP naturally runs a large ALGO options book (traded OTC). The vaults on Thetanuts add a new dimension to the Algo vol market by bringing increased access, transparency, efficiency and scalability for both investors and market makers.” - Darius Sit, Co-Founder & CIO of QCP Capital

“DeFi is central to fulfilling the vision of the Borderless Economy, so we are thrilled by the opportunity to work with QCP and Thetanuts to support the creation of a vibrant on-chain ALGO options market. This is just the first of many steps towards establishing Algorand as an essential layer for innovative and sustainable DeFi applications.” - Sean Lee, CEO Algorand Foundation

About QCP Capital:

QCP Capital is a leader in crypto derivatives with a $2 billion options book trading across exchanges, OTC and Defi. With a team of over 60 based in Singapore, QCP has a strong presence in Asia and are also active early investors in the best crypto projects (including ALGO)!

About Thetanuts:

Thetanuts is a cross chain structured products protocol currently live on Ethereum, BSC and AVAX, with many more chains covered soon. It runs automated yield bearing strategies for various alt-coins across the various EVM chains.

About Algorand Foundation

The Algorand Foundation is dedicated to fulfilling the global promise of blockchain technology by leveraging the Algorand protocol and open-source software, which was initially designed by Silvio Micali and a team of leading scientists. With core beliefs in the establishment of an open, public, and permissionless blockchain, the Algorand Foundation has a vision for an inclusive ecosystem that provides an opportunity for everyone to harness the potential of an equitable and truly borderless economy.

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