Vest raises $5 million to launch a decentralized risk pricing engine

According to official news from Vest, Vest has announced the completion of a $5 million funding round to build The Universal Risk Engine. This round of financing is led by institutions such as Jane Street, Selini Capital, Amber Group, QCP, Big Brain Holdings, Mozaik Capital, and involves executives from financial giants such as BlackRock and Citadel. Vest aims to address the current problem of fragmented and isolated risk pricing data in financial markets, providing 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 utilizes blockchain and zero knowledge proof (zk proofs) technology to ensure a transparent and fair trading environment, avoiding market manipulation. In addition, Vest announced that it will launch an early testing user reward program on March 12th to encourage community participation and testing of the new platform.