On August 26, City Protocol, an on-chain structured product infrastructure, announced the completion of its seed and Pre-A funding rounds, raising a total of $11 million. Investors include Dragonfly, Jump Crypto, CMT Digital, Stratified Capital, Adaverse, and Mirana. City Protocol aims to bring structured products on-chain by providing an integrated infrastructure for issuance, operation, and acquisition through tokenization, treasury, and operational layers. Its flagship product, the on-chain structured product platform Venzo, has launched four strategy treasuries with a total value locked (TVL) of $40 million, covering strategies such as quantitative hedging, cross-exchange arbitrage, and private credit, which have traditionally targeted institutional and professional investors. Venzo will also soon introduce thematic treasuries, categorized into character tracking and sector themes, allowing users to buy and adjust a basket of assets directly in their wallets according to publicly defined rules.