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Polymarket Snaps up Brahma as Prediction Market Competition Heats Up
Polymarket aims to improve user experience and increase liquidity for smaller wagers by integrating Brahma’s crypto and decentralized finance infrastructure expertise.
- Polymarket announced on Wednesday it is acquiring Brahma to integrate DeFi tooling and reduce visible blockchain elements, bringing Brahma’s team and technology into its platform while keeping financial terms undisclosed.
- With blockchain rails adding complexity, Alessandro Tenconi, Brahma co-founder, said his startup can remove user friction, while Shayne Coplan, founder and CEO of Polymarket, praised Brahma’s ability to design and scale complex products.
- Having processed more than $1 billion, Brahma was founded in 2021 and supports DeFi use at scale, with companies like Coinbase and Robinhood entering the sector.
- Within 30 days, Brahma will wind down projects with external partners and phase out Brahma Accounts, Agents and Swype.fun, instructing users to migrate funds and positions via its website.
- Valued at $20 billion, Polymarket has also acquired Dome and Lunch this month, signaling its focus on DeFi growth and boosting liquidity for thinly traded contracts.
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velvetclassic.netPolymarket Acquires DeFi Startup Brahma to Strengthen Infrastructure
Polymarket has acquired DeFi startup Brahma to enhance its infrastructure and improve user experience. The move is expected to simplify blockchain processes and support the platform’s expansion. While the deal could boost efficiency and scalability, it also comes amid rising regulatory scrutiny, especially after Polymarket faced a ban in Argentina over compliance concerns.
The decentralized finance company (DeFi) Brahma is purchased by Polymarket. What will be the use of this acquisition for the predictive markets platform? Article 3rd acquisition in 2 months: Polymarket buys the company DeFi Brahma appeared first on Cryptoast.
Polymarket Acquires Brahma to Strengthen DeFi Infrastructure
In the last four years, Brahma has made three main products: Strategy Vaults for automated DeFi strategies, Brahma Accounts, smart accounts for DeFi users. Polymarket has carried on to invest in expansion regardless of a wider crypto market slip and an increase in interest in AI. The largest prediction market, Polymarket, has publicised that it is acquiring Brahma, a crypto startup offering decentralised finance (DeFi) infrastructure. As per th…
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