Tracer DAO

Tracer DAO was a decentralized finance (DeFi) protocol designed to facilitate the creation and trading of derivatives for any market with a reliable data feed. The project was operated by a Decentralized Autonomous Organization (DAO), where governance was managed by holders of the TCR token. The development firm behind Tracer DAO was Mycelium, a Brisbane-based company. One of Tracer's founders is Pat McNab, who is also a co-founder of Mycelium.

The protocol's core vision was to democratize access to financial risk management tools, extending beyond cryptocurrency to real-world assets like fuel and water prices. It operated on the Ethereum blockchain and utilized Arbitrum, a Layer 2 scaling solution, to offer lower transaction costs. Tracer DAO's main product was Perpetual Pools, which allowed users to gain leveraged exposure to assets without the risk of liquidation or margin calls. This was achieved through a novel rebalancing mechanism between long and short positions within a liquidity pool. The platform also featured the "Tracer Factory," a smart contract system enabling anyone to permissionlessly deploy new derivative markets using pre-built templates.

In June 2021, Tracer DAO raised $4.5 million in a funding round from investors such as Framework Ventures, Maven 11, DACM, and Apollo Capital. The protocol gained traction, with its Perpetual Pools product seeing over $800 million in trade volume in its first year. However, in August 2022, the Tracer DAO community voted to merge with its core service provider, Mycelium. This transition involved migrating the TCR token to a new token, MYC, on a one-to-one basis, which offered greater utility, including trading discounts. The merger aimed to streamline product delivery, reduce the focus on complex governance, and leverage Mycelium's infrastructure expertise to launch new products like Perpetual Swaps.

Keywords: Tracer DAO, Mycelium, TCR token, MYC token, Perpetual Pools, decentralized finance, DeFi, derivatives protocol, smart contracts, Arbitrum, Pat McNab, financial derivatives, liquidation-free leverage, DAO governance, crypto derivatives, asset tokenization, Perpetual Swaps, blockchain finance, Framework Ventures, risk management.