According to ChainCatcher, as reported by The Block, the developing MegaETH-based cryptocurrency derivatives trading application Euphoria has completed a $7.5 million seed round financing, led by Karatage, with Figment Capital and Robot Ventures (both early seed round co-leads) participating. Other participants include Bankless Ventures, First Commit, Hash3, Comfy Capital, and Kosmos Ventures, along with over 100 angel investors.
Euphoria co-founder and CEO Nathan Worsley stated that this $7.5 million funding includes a $2.5 million pre-seed round completed in November 2024 and a $5 million seed round completed from February to July this year. The funding utilizes a Simple Agreement for Future Equity (SAFE) along with token warrants, and after the funding is completed, Euphoria's post-money valuation reaches 'eight digits'.
It is reported that Euphoria is developing a mobile application aimed at simplifying cryptocurrency derivatives trading (such as options and perpetual contracts), making it easier for ordinary users to get started. Worsley stated that this idea stemmed from his experience of failing to explain derivatives trading to friends. He realized that most people do not take the time to learn about order books or margin operations. Therefore, Euphoria is building a 'one-touch trading' interface that allows users to place bets through simple steps, bypassing traditional technical complexities. The goal is to lower the participation threshold by making derivatives trading intuitive and easy to understand.