PANews reported on March 12 that according to Vest’s official news, Vest announced that it had completed a $5 million financing to build The Universal Risk Engine. This round of financing was led by Jane Street, Selini Capital, Amber Group, QCP, Big Brain Holdings, Mozaik Capital and other institutions, and executives from financial giants such as BlackRock and Citadel participated.
Vest aims to solve the current problem of fragmented and isolated risk pricing data in the financial market, and provide a verifiable neutral framework that enables financial participants to share risk models that dynamically adapt to market conditions, replacing traditional individual risk assessments.
Vest's first product, Vest Exchange, is a perpetual contract exchange that uses blockchain and zero-knowledge proof (zk proofs) technology to ensure a transparent and fair trading environment and avoid market manipulation. In addition, Vest announced that it will launch an early test user reward program on March 12 to encourage the community to participate and test the new platform.
