Friktion raises $5.5M to bring full-stack portfolio management to DeFi

Friktion Labs is excited to announce a capital raise of $5.5 million from Jump Crypto, DeFiance Capital, Pillar VC, Libertus Capital, Delphi Ventures, Sino Global Capital, Tribe Capital, Castle Island Ventures, Dialectic, Petrock Capital, Solana Ventures. Alongside, Friktion has brought on board a group of industry-leading derivatives traders and market makers in Genesis Trading, Alameda Research, LedgerPrime, QCP Capital, CMS Holdings, Orthogonal Trading, and GSR. We’re also proud to be supported by a fantastic group of Angels about whom we will have an upcoming post!

Three weeks into Mainnet launch, Friktion is Solana’s largest options and structured products protocol with over $100 million deposited across 2 strategies (Volts) and supporting 11 top crypto assets.

This funding will be deployed into building Circuits, a novel liquidity and portfolio management system built to drive long-term capital inflows and return generation for DAOs. Circuits enable a new generation of risk-aware DAOs — responsible for maximizing long-term value and managing capital (Current). Circuits are powered by Volts, Friktion’s native return generation strategies and Inductors, balancers and optimizers of Current. Through Circuits, DAOs will be able to access curated portfolio construction and risk management to scale the next generation of DeFi users! We will also be launching a Taskforce grants program (Research Collaborators, Quant Research & Analytics, and User Research), bug bounties, and an Ecosystem Fund focused on development.

Our team

Friktion Labs, the development organization building Friktion, is a team of quantitative traders, researchers, and crypto engineers with backgrounds in commodities, treasuries, volatility products, and crypto-assets. We believe that in order for DeFi to serve as the financial rails for 1+ billion users, we’ll need long-term sources of returns paired with a safe and intuitive user experience.

Our investors

Arthur Cheong, Founder and Investor at DeFiance Capital

Peter Johnson, Partner at Jump Capital

Eli, Partner at Libertus Capital

Joshua Lim, Head of Derivatives, Genesis Trading

Learn more

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Friktion brings high quality portfolio management to DeFi.