Worm.wtf, a prediction marketplace in the Solana ecosystem, has completed a Pre-Seed round of 4.5 million USD with investors 6MV, Alliance, Solana Ventures, Borderless, and Advancit Capital.

The funding round took place after the platform launched in mid-October, running on UMA, while adding a pre-sale feature along with a binding curve mechanism to reward early participants.

MAIN CONTENT

  • The Pre-Seed round of 4.5 million USD has been completed.

  • Investors: 6MV, Alliance, Solana Ventures, Borderless, Advancit Capital.

  • Launched in mid-October; using UMA; added pre-sale and binding curve.

Funding round

Worm.wtf raised 4.5 million USD in the Pre-Seed round, with participation from 6MV, Alliance, Solana Ventures, Borderless, and Advancit Capital.

Announcement date: 17/12. This is the first financial milestone since the platform started operating in mid-October. The involvement of the Solana ecosystem fund and venture capitalists indicates early support for the predicted marketplace model on Solana.

Although the valuation or detailed capital usage plan has not been announced, completing the Pre-Seed round helps the platform expand its products, users, and liquidity, particularly targeting early adopters who are encouraged by a new reward mechanism.

Products and progress

The platform launched in mid-October, operated by UMA, adding pre-sale features and a binding curve mechanism to reward early participants.

The pre-sale feature allows users to participate early before the official market opens, while the binding curve mechanism shapes the distribution/incentives for early adopters. These two additions aim to increase the motivation for liquidity initiation and initial trading activity.

UMA serves as the infrastructure for the decentralized financial mechanisms of worm.wtf. Combined with the Solana ecosystem, the platform aims to optimize speed and cost, laying the groundwork for a prediction and event-based trading experience with low costs and quick feedback.

Source: https://tintucbitcoin.com/worm-wtf-goi-45m-pre-seed-he-solana/

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