Decentralized derivatives platform – Tracer DAO – has reportedly disclosed details of a successfully obtained $4.5 million fund, dedicated to widening the scope of its team and product suite.

Specifically, the newly acquired money via fundraising will reportedly be channeled towards releasing innovative derivatives for “any market with an oracle price feed”, with additional plans down its pipeline to enable cost hedging in the near future, regarding the cost of commuting and other household bills, via utilizing tokenized derivatives, for its clients. 

Numerous big players across the crypto venture sphere have reportedly taken part in the raise, including Framework Ventures, Maven 11, DACM, and Apollo Capital.

The investors will reportedly take care of the sharing of 10% of the initiative’s governance token supply – which will be assigned in a sequential manner within a two-year period. 

Pat McNab, Tracer DAO founder and co-founder of Mycelium – the development group from Australia working on Tracer DAO currently, reportedly highlighted that his team is spending an extensive effort to roll out the first version of its open-source perpetual swap contracts to Arbitrum mainnet, within the next months. 

McNab referred to the swap as a different initiative compared to the rest of its rivals, with its “highly capital efficient” as well as unique insurance pool, making it possible for any individual to  “become an insurer for the protocol and earn interest.”

“For each perpetual swap market, there will be an underlying insurance pool […] that insurance pool collects funding payments in the form of an interest rate paid by traders,”

Should traders fail to hit the standard margin and counterparty risk is imminent, the insurer’s funds will have to be utilized, he further revealed.