On-chain structured product infrastructure City Protocol has raised a total of $11 million after completing its seed round and Pre-A round financing. Investors include Dragonfly, Jump Crypto, CMT Digital, Stratified Capital, Adaverse, Mirana, and others. The company is building infrastructure to bring structured products on-chain through a tokenization layer, a vault layer, and an issuance and operations layer. Its flagship product, Venzo, is an on-chain structured product platform that has launched four strategy vaults with $40 million in total value locked, covering quantitative hedging, cross-exchange arbitrage, private credit, and other strategies.