Nibiru, a groundbreaking crypto derivatives protocol, has secured ₹5287.5 million in seed funding, reaching a ₹528100 million valuation. Key investors include Tribe Capital, Republic Crypto, and Kraken. Co-founded by Arjun Sethi of Tribe Capital, alongside industry experts like Sankha Banerjee and Boris Revsin, Nibiru aims to innovate in the crypto trading space.

The project seeks to become the first mainstream decentralized multichain solution for derivatives trading, integrating spot trading, staking, and liquidity options across more than 40 blockchains. Its features include low gas fees, MEV resistance, and high futures volume, promising to unlock new hedging opportunities for users.

Nibiru's Market Position

With the crypto market dominated by centralized platforms like Binance and FTX, and decentralized options like Dydx and Opyn, Nibiru's approach could redefine trading dynamics. Its private testnet phase highlights its commitment to providing robust, secure trading environments.

Nibiru's strategy includes attracting talent from giants like Meta, Reddit, JP Morgan, and Yahoo, showcasing its potential impact on the blockchain industry. This initiative is geared towards creating composable yield in varying market conditions, leveraging decentralized perpetual and options contracts.