Contango, an expiring futures protocol incubated by Alpha Venture DAO, announced the completion of a $4 million round led by ParaFi, with additional investors including incubator dlab and Advanced Blockchain AG, as well as Coinbase Ventures, Spartan Group, AngelDAO, Cumberland, GSR Markets, Amber Group and CMS Holdings, etc., and angel investors Juan and Andrew (MakerDAO), Michael (Fantom Foundation), etc. Contango is an expiring futures protocol facilitator, building an open source DEX that provides expiring futures with no order book or liquidity pool. When a trader opens a position on Contango, the protocol borrows in the fixed rate market and in the spot market Exchange and then lend on fixed rate markets, agreement provides physical delivery at maturity
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