delta.theta Announces Investment by Thundermark, Moves Headquarters to Miami to Lead a Revolution in Decentralized Finance
June 30, 2021 11:00 AM Eastern Standard Time
MIAMI FL, United States — delta.theta, a decentralized finance cryptocurrency derivatives exchange, today announced an investment from Thundermark, an early-stage deep tech venture capital fund and venture studio based in Miami and New York City. Decentralized finance, commonly referred to as DeFi, is a blockchain-based form of finance that does not rely on central financial intermediaries such as brokerages, exchanges, or banks to offer traditional financial instruments, and instead utilizes smart contracts on blockchains. DeFi platforms allow people to lend or borrow funds from others, speculate on price movements on a range of assets using derivatives, trade cryptocurrencies, insure against risks, and earn interest in savings-like accounts. Deltatheta is a peer-to-peer derivatives trading platform that provides an advanced infrastructure and ready-made solutions to control and minimize risks of the cryptocurrency market. Currently, the solution is implemented on the Binance Smart Chain and Ethereum blockchain.
“I couldn’t be more thrilled to become involved with delta.theta” said Gleb Chuvpilo, Managing Partner at Thundermark. “delta.theta has a very strong founding team aiming at decentralized finance, which will drive some of the most important advancements in fintech in the coming decade.” In addition to the investment, delta.theta co-founders Danil Zatologin and Ilia Chesnokov are joining Thundermark as Venture Partners to lead sourcing, due diligence and development of DeFi startups. “It is a great honor to join the Thundermark family,” said Danil Zatologin. “Our easy-to-use product and strong technology stack supercharged by Thundermark’s involvement will bring value to all stakeholders in the DeFi space. We are looking forward to making cryptocurrency derivatives trading accessible to anyone.”
delta.theta also announced that it will be moving its headquarters to Miami to join the emerging tech ecosystem that already saw the Bitcoin 2021 conference this month, with at least 12,000 people attending. FTX cryptocurrency exchange recently bought the naming rights to the Miami Heat’s arena, and Miami’s Mayor, Francis Suarez, announced this year that the city would accept tax payments in cryptocurrency, let its employees collect salaries with it and explore holding some on its balance sheet. “I’m here to tell all the haters and all the doubters that this is not a moment, this is a movement,” he said. Mayor Suarez extended a warm welcome to delta.theta and won the company over alternative locations in Silicon Valley, Switzerland, and Singapore. “I am looking forward to having the delta.theta team over for a Cafecito Talk!”, he said.
Today, the cryptocurrency market exceeds $2 trillion in capitalization. The market is well developed in terms of spot trading and margin services, as well as centralized trading. delta.theta is a peer-to-peer option trading platform currently operating on both Binance Smart Chain and Ethereum. In simplest terms, it is a protocol that enables centralized exchange (CEX) liquidity on options to be available on-chain. This is possible because delta.theta enables a decentralized network of real-time order book market makers to hedge DEX options against CEX order books. DeFi farmers, on the other hand, get access to the lowest premium on price drop insurance. Today any DeFi trader would have to opt for a centralized exchange (CEX) to participate in the options market. delta.theta solves this problem with a decentralized solution that includes a rapid fulfillment terminal on BSC and Ethereum.
Thundermark is an early-stage deep tech VC fund and venture studio located in Miami and New York City. Thundermark is managed by Gleb Chuvpilo, a serial entrepreneur and early-stage venture capital investor, with a Master’s degree from the MIT Computer Science and Artificial Intelligence Lab and an MBA in Finance and Strategic Management from The Wharton School at the University of Pennsylvania. Gleb Chuvpilo was previously based in London and managed venture capital investments as a Venture Partner at a large European family office. Before that Gleb Chuvpilo managed AI-driven quantitative trading portfolios at Goldman Sachs in New York and Thiel Macro in San Francisco (Peter Thiel’s global macro fund), built AI algorithms at Palantir Technologies (an In-Q-Tel backed Silicon Valley startup, now public), and co-founded several technology startups, including Authy (Y Combinator class 2012, acquired by Twilio), Ride (with Uber co-founder Oscar Salazar, funded by TPG and Bono, acquired by Enterprise Holdings), and Pager (also with Oscar Salazar, funded by New Enterprise Associates). Gleb Chuvpilo is a Chartered Financial Analyst (CFA) and a member of the New York Society of Security Analysts (NYSSA) and the Wharton Private Equity & Venture Capital Association. Gleb Chuvpilo is also an Energy Risk Professional (ERP), as well as a graduate of the MIT Sloan Financial Technology program and the Reforge Growth Series with Andrew Chen.
Danil Zatologin — firstname.lastname@example.org
Gleb Chuvpilo — email@example.com