On August 8, according to The Block, Euphoria, a crypto derivatives trading application under development based on MegaETH, has completed a $7.5 million seed round financing, led by Karatage, with follow-on investments from Figment Capital and Robot Ventures (both co-lead investors in the early seed round). Other participants include Bankless Ventures, First Commit, Hash3, Comfy Capital, Kosmos Ventures, and over 100 angel investors.
Nathan Worsley, co-founder and CEO of Euphoria, stated that the $7.5 million financing includes a $2.5 million pre-seed round completed in November 2024 and a $5 million seed round completed between February and July this year. The financing was done through a Simple Agreement for Future Equity (SAFE) with attached token warrants, and Euphoria's post-financing valuation reached the "low eight-digit range".
It is understood that Euphoria is developing a mobile application aimed at simplifying crypto derivatives trading (such as options and perpetual contracts) to make it easier for ordinary users. Worsley said this idea originated from his failed attempt to explain derivatives trading to friends. He realized that most people would not learn about order books or margin operations. Therefore, Euphoria is creating a "touch-to-trade" interface that allows users to place bets through simple steps, bypassing traditional technical complexities. Their goal is to lower the entry barrier by making derivatives trading intuitive and easy to understand.
