The encryption derivatives trading application Euphoria has completed a $7.5 million seed round financing, led by Karatage.

According to ChainCatcher news reported by The Block, Euphoria, an under-development encryption derivatives trading application 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 of which were early joint lead investors in the seed round). Other participants include Bankless Ventures, First Commit, Hash3, Comfy Capital, and Kosmos Ventures, as well as over 100 angel investors. Nathan Worsley, co-founder and CEO of Euphoria, stated that this $7.5 million funding includes a $2.5 million pre-seed round completed in November 2024 and a $5 million seed round completed from February to July this year. The funding uses a Simple Agreement for Future Equity (SAFE) and comes with token warrants, leading to a post-funding valuation of Euphoria reaching an “eight-figure cap.” It is reported that Euphoria is developing a mobile application aimed at simplifying encryption derivatives trading (such as options and perpetual contracts), making it easier for ordinary users to get started. Worsley stated that this idea originated from his experience of failing to explain derivatives trading to friends. He realized that most people would not go learn about order books or margin operations. Therefore, Euphoria is creating a “one-touch trading” interface that allows users to place bets through simple steps, bypassing traditional technical complexities. Its goal is to lower the participation threshold by making derivatives trading intuitive and easy to understand.