Solana Prediction Market Protocol TBD Secures $3 Million Seed Funding
According to the project, CMT Digital and ParaFi will take board observer seats as TBD, founded by former dYdX members, follows its $800,000 angel round backed by Raj Gokal.
SOL
DYDX
Summary
In an official announcement, Solana-based prediction market protocol TBD raised $3 million in a seed round led by CMT Digital and ParaFi, with Jump Crypto participating. CMT and ParaFi will hold board observer seats. Founded by former dYdX members, TBD previously closed an $800,000 angel round that included Solana co-founder Raj Gokal.
Terms & Concepts
- Prediction market: A platform where users trade contracts based on future event outcomes, often using blockchain for transparency and settlement.
- Seed round: An early-stage funding round used to develop a product, build a team, and achieve initial market traction.
- Solana: A high-throughput blockchain known for low fees and fast transaction finality, used for decentralized applications.