Proceeds from the sale will be used to support web3 public goods and development costs.

Potion Unlock was a new release model that decentralized Protocols use, and it saw sales of $12M last January from both acclaimed DeFi firms as well as individuals. Potion Labs, which is behind this project, had raised $3.2M in August from DeFi firms of top tier.

The project was a hit with experienced DeFi party members like Polychain, Placeholder and Pantera as well as Tarun Chitra, Tarun, Robert Leshner, MetaCartelVentures and Tarunchitra.

The $12 million sale is part of a limited pre-release of an upcoming NFT collection that is about to launch as part of ‘Potion Unlock’, a novel on-chain community consensus challenge that will take all the protocol code into the public domain. This game is designed to accelerate decentralization and provide a clear regulatory framework for participants and dev teams.

The community is invited to attend a wider, public NFT sales in addition to the initial sale. In recognition of their contribution to the community, project OG members will receive a % from the collection.

It is planning to do more research and develop in Web3 and will continue to focus on innovative and high-quality public goods.

“We are excited about the opportunity to introduce a new class of services built from the ground up by the community for the community. We believe in a community-first approach to creating radically new technology aimed at helping users in DeFi manage the risk of their assets in a simple and reliable way,”
Guillem Mosquera is the PotionLabs Cofounder and CTO.

We are grateful for the support of all ecosystem members and our team during this critical step. Our community is able to support our experiments with sustainable web 3 public benefit funding. We’re excited to be able to experiment with innovative approaches. They are eager to play a vital role in the project’s success and continue their support.”
said Jordi Muñoz, PotionLabs Co-founder and CEO.

Potion brings a new era in risk management to DeFi liquidity providers (LPs), and consumers. Potion uses the Kelly Criterion to allow LPs price their options according to their risk/return parameters. Potion then aggregates all individual curves to offer the most affordable options for the customer. Potion ranks at the top when people refer to DeFi 2.0.
Chris Burniske is a Partner at Placeholder.

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