Algorithmic Stock Platform Delphia Debuts Digital Asset Component

The company raised $60 million this summer in a Series A funding round.

AccessTimeIconSep 28, 2022 at 12:00 p.m. UTC
Updated May 11, 2023 at 6:51 p.m. UTC
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Algorithm-backed stock adviser Delphia has added a digital asset feature to its platform, allowing users to earn rewards through being active in the community.

Dubbed the Ecosystem, the new platform will include a utility token, phi (PHI). Members can earn phi by participating in a range of signal-generating games that would in turn improve the company’s data set, according to a statement Wednesday.

“Integrating the Ecosystem into the Delphia asset management platform will enable us to further incentivize people to share their data and increase the overall value of the data for those investing with Delphia,” said company CEO Andrew Peek. “The ecosystem, as well as PHI, provide our investors with what we think is the best way to leverage their proprietary data and increase their returns,” he added.

In June, Delphia raised $60 million in a Series A funding round led by Multicoin Capital to expand headcount and launch the native Delphia Data rewards token.

Delphia said Wednesday that PHI holders in the ecosystem will be given some form of exclusivity, including early access to trading strategies and overall enhancements to the in-app experience. The company expects to update users on plans to bring on more ways to earn tokens along with new rewards in the coming months.

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Michael Bellusci is CoinDesk's crypto reporter focused on public companies and digital asset firms.


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