Crypto Derivatives Trading App Euphoria Completes $7.5M Seed Round, Lead by Karatage

BlockBeats News, August 8th. According to The Block, Euphoria, an upcoming MegaETH-based encrypted derivative trading application, has completed a $7.5 million seed round of financing. The round was led by Karatage, with follow-on investments from Figment Capital and Robot Ventures (both of which were joint lead investors in the earlier seed round). Other participants include Bankless Ventures, First Commit, Hash3, Comfy Capital, and Kosmos Ventures, as well as over 100 angel investors.

Euphoria's co-founder and CEO, Nathan Worsley, stated that this $7.5 million financing includes a $2.5 million pre-seed round completed in November 2024, as well as a $5 million seed round completed from February to July this year. The financing was done using Simple Agreement for Future Equity (SAFE) with attached token warrants, and post-financing, Euphoria's post-money valuation reaches a "seven-figure ceiling."

It is reported that Euphoria is developing a mobile application designed to simplify encrypted derivative trading (such as options and perpetual contracts) to make it easier for ordinary users to get started. Worsley stated that this idea stemmed from his failed attempts to explain derivative trading to friends. He realized that most people wouldn't go learn order books or margin operations. Therefore, Euphoria is building a "one-tap trading" interface that allows users to place bets through simple steps, bypassing the traditional technical complexities. Its goal is to lower the entry barrier by making derivative trading intuitive and easy to understand.