TL;DR:
The prediction market Myriad successfully closed its seed investment round. The round included funds such as Verda Ventures, Auros, Igloo Inc., Side Door Ventures, EVG, MoonPay Ventures, Wave Financial, Walrus and OFR. Notable individual investors include Tom Lee, co-founder of Fundstrat, DJ and crypto figure Blondish, and Luca Netz, CEO of Pudgy Penguins.
Myriad is owned by Dastan, the parent company of Decrypt. Ilan Hazan, co-founder and COO of the company, noted that these new investors join a cap table that already included ConsenSys, HashKey Capital, IOSG Ventures and Hack VC, and described the operation as a vote of confidence in the project’s vision.
Loxley Fernandes, co-founder and CEO of Myriad, stated that the capital raised will allow the company to invest aggressively in product development, liquidity and market expansion. “We are in one of the most exciting technological races in recent times,” he said. Farokh Sarmad, co-founder and president, also declared that the round will usher in a new growth phase to scale Myriad Markets.
The announcement came immediately after the launch of the platform’s Season 3, which included the full migration of its event contract catalog to BNB Chain and the adoption of World Liberty Financial’s USD1 stablecoin as the exclusive settlement asset. According to the company, this change aims to create a prediction ecosystem that is faster, simpler and more consistent.
Additionally, Myriad announced the transition from an automated market maker liquidity model to a central limit order book, known as a CLOB. The new framework will enable slippage controls, limit orders, dynamic fees and more detailed market information for users. The update also incorporated the deployment of its own wallet across the entire platform, integrated with MoonPay.
