Myriad's Seed Round Cashes In, Bets Big on the Prediction Market Grind

Prediction market platform Myriad has officially banked its seed round, with the check signed by a crew including MoonPay, Walrus, and Fundstrat's Tom Lee—because when the charts go sideways, why not bet on when they'll go sideways again?

Myriad co-founder Farokh Sarmad labeled the raise a "milestone," which is crypto-speak for "we can afford more coffee for the devs." The platform, under the Decrypt/Dastan umbrella, pulled in cash from Verda Ventures, Auros, Igloo Inc, and others, plus a sprinkle of influencer magic from Seedphrase, Blondish, and Pudgy Penguins' Luca Netz. Because nothing says "serious financial infrastructure" like a cartoon penguin.

Co-founder Ilan Hazan expressed the team's excitement about their new financial overlords, noting they now join the existing cap table hall of fame featuring ConsenSys and Hack VC. He called it a "meaningful vote of confidence," which translates to having enough runway to keep building before the next bear market hibernation.

The fresh capital is destined to fuel Myriad's prediction market engine. CEO Loxley Fernandes stated that the growth capital enables aggressive investment in product and liquidity, framing it as one of the most exciting tech races lately—a race where the finish line is hopefully not another rugged roadmap.

This funding news rides the wave of Myriad's Season 3 launch, which involved migrating its contracts to BNB Chain and adopting World Liberty Financial's USD1 stablecoin for settlements. The goal? To create a prediction environment that's faster and simpler, because in crypto, waiting for a transaction is more suspenseful than the event you're betting on.

The platform also swapped its AMM for a Central Limit Order Book (CLOB), bringing features like limit orders and slippage controls—finally giving degens the illusion of precision while they gamble. The update included the rollout of the Myriad Wallet, leveraging MoonPay for deposits so you can go from fiat to betting on "Will Elon tweet?" in record time.

Farokh declared that this raise unlocks a new growth phase as they double down on scaling Myriad Markets. In other words, the team is all-in, which is a fitting strategy for a prediction market company.

Myriad has partnered with AceTrader, letting users predict the outcome of the AceTrader 100 competition for a $30,000 prize pool. The contest features celebrity crypto traders, including Myriad's own Farokh, all competing for a $1 million USDC trade fund—a high-stakes demo for the platform where the house hopefully doesn't always win.

With the integration of World Liberty Financial's USD1, Myriad claims the title of first prediction market to launch USD1 pools on BNB Chain with WLFI. It's a niche flex, but in DeFi, you take your milestones where you can get them.