On June 22, Hong Kong-based on-chain trading platform TurboFlow announced that it has completed a $6 million seed round, led by Pantera Capital, with participation from Susquehanna Crypto and Digital Currency Group (DCG). The funding uses a Simple Agreement for Future Tokens (SAFT) structure, to be completed in March 2026.
Funding Structure and Use of Proceeds: SAFT Framework and Pantera’s Investment Background
According to reports from The Block and BloomingBit, the funding structure details are as follows:
Funding structure: SAFT (Simple Agreement for Future Tokens). Investors provide funds in advance in exchange for the company’s legal commitment to deliver digital tokens at a future date (typically when the platform launches). This SAFT round will be completed in March 2026.
Valuation: Not disclosed; Tony He did not reveal it in an interview.
Use of funds: For product development, building liquidity infrastructure, and user growth.
Pantera Capital: Founded in 2013, it is a crypto investment firm that launched the first Bitcoin fund; it manages venture capital, hedge fund, and liquidity token strategies.
Managing partner Paul Veradittakit said in an interview, “TurboFlow is advancing a vision for a more transparent and inclusive market through blockchain technology.” PANews also reported that Pantera recently invested $11.5 million in Based, a trading and payments platform driven by HyperLiquid.
TurboFlow’s Current Scale and Business Model
According to The Block, the known operating metrics (during the testing period) when TurboFlow announced the funding include:
Cumulative trading volume: Over $19 billion (over a testing period of more than six months)
Registered users: More than 15,000
Minimum trade size: $2
Team size: 30-plus employees, most based in Hong Kong
Business model definition: The company defines its model as “high-speed event trading” focused on short-term contracts, integrating prediction markets, perpetual futures, and self-custody trading
Tony He said that the regulatory frameworks for prediction markets in the Asia-Pacific region have “significant differences and are still evolving,” and the company is working with advisors to develop compliance solutions for different markets; specific license progress was not disclosed.
Market Background Data: Kalshi’s Growth and Global Prediction Market Size
The following data is provided by third-party institutions to describe the market background TurboFlow is entering (the figures vary by source):
Kalshi (company disclosed): Completes a $1 billion F round in May 2026, with a valuation of $22 billion; annualized trading volume increases from $52 billion to $178 billion within six months; institutional trading volume increases 800% over the same period (Reuters).
Overall prediction market size (Artemis): Approximately $64 billion in 2022; expected to exceed $325 billion in 2026.
Crypto perpetual contracts (CoinGecko Research): Reaches $7.24 trillion in January 2026; $4.14 trillion one year earlier (CoinGecko Research).
FAQ
How does the SAFT funding structure work, and when will TurboFlow’s token be delivered?
SAFT is a legal agreement where investors provide funds in advance in exchange for future token delivery, usually executed when the platform officially launches. TurboFlow’s SAFT is completed in March 2026; the specific token delivery timeline and conditions were not disclosed in the existing announcement.
How does TurboFlow’s market positioning differ from Polymarket?
According to Tony He, Kalshi and Polymarket have already established themselves in Western markets, while TurboFlow positions itself in the Asia-Pacific region to fill an institutional liquidity gap; TurboFlow also integrates perpetual contract functionality, while Polymarket mainly serves prediction market platforms. Tony He’s statements represent the company’s self-positioning rather than independent third-party market analysis.
How is TurboFlow’s cumulative trading volume of $19 billion generated?
According to The Block, the $19 billion figure is TurboFlow’s cumulative trading volume during more than six months of its test version period, not the numbers after an informal launch. The minimum trade size is $2, and the platform defines its business model as “high-speed event trading” (focused on short-term contracts).
