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UQ alumni raise $6m for DeFi derivatives system
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A new system for trading derivatives has raised $US4.5 million from leading investors in the booming area of decentralised finance and its local developer is creating jobs in Australia to build it out.
The Tracer DAO, a decentralised autonomous organisation, a new form of business ownership by an internet community, closed the $A5.9 million raising on Monday, valuing it at $US45 million.
Mycelium co-founders Ash Morgan, Pat McNab and Ray Mogg in Brisbane on Monday. Mycelium will develop the Tracer DAO.Â
Paul Harris
Investors purchased âgovernance tokensâ that provide rights to make decisions on the rollout of the technology.