Onchain Structured Products Infrastructure City Protocol Raises $11M Across Seed and Pre-A Rounds, Backed by Dragonfly, CMT Digital and Mirana

City Protocol, an onchain structured products infrastructure provider, has announced the completion of its seed and Pre-A funding rounds, raising $11 million in total from Dragonfly, Jump Crypto, CMT Digital, Stratified Capital, Adaverse, Mirana and others. City Protocol is building integrated infrastructure for the issuance, operation and distribution of structured products onchain; its flagship product, Venzo, is the onchain structured products platform running on that infrastructure. Venzo currently hosts four strategy vaults with $30 million in TVL, is running its inaugural Polis Points season, and will roll out a non-custodial Thematic Portfolios product line in the near term.

1. Integrated Infrastructure for Structured Products Onchain

In traditional finance, launching a structured product takes an issuing entity, custody and valuation providers, an operations team and distribution channels - slow, expensive and effectively out of reach for smaller asset managers. Onchain, the problem simply changes shape: strategies, vault contracts, accounting and distribution each sit in their own silo, so issuers rebuild the same plumbing for every product.

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