City Protocol
On-chain structured product infrastructure offering standardized issuance and operation modules
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About City Protocol
City Protocol is a full-stack onchain infrastructure for structured finance, evolving from a Solana launchpad into an EVM-native standard layer. Its core business is split into three reusable modules: a tokenization layer that turns yield strategies into verifiable products, a vault layer using pre-audited contracts for subscription, accounting, and redemption, and an issuance and operation layer that manages product lifecycles. Its flagship product, Venzo, currently operates four strategy vaults with $30 million in TVL, covering quantitative hedging, cross-exchange arbitrage, private credit, and onchain yield strategies.
The core competitiveness lies in standardizing the entire issuance and distribution process, allowing strategy teams to launch products like calling APIs. This addresses the market pain point where structured products are traditionally opaque, high-barrier, and fragmented across protocols, while users lack unified access to verified yield opportunities.
In the past six months (2026-03-04 to 2026-09-04), City Protocol shifted its attention layer to Base Mini-App and Viral City, reporting 19,000 generated videos and Cast interactions. In June, Zenith audited the venzo-contracts and $CP contract on Base. From July 21 to August 31, Venzo launched the first season of Polis Points. On August 14, Affinity Quant Credit went live. On August 24, the official TVL was reported at $30 million.
Notably, a data inconsistency emerged: the official Chinese press release on August 26 claimed $40 million TVL, while the English follow-up report corrected it to approximately $30 million, suggesting possible misreporting in initial materials.
City Protocol began as Cooking City, a Solana-based fair launch platform that gained early traction in 2025. Its first major milestone was completing a $7 million seed round led by Jump Crypto in May 2025, followed by the launch of its issuance module in July. In October 2025, the project rebranded to City Protocol, shifting from a launchpad to a full-stack neofinance infrastructure layer, introducing City ID and expanding its ecosystem. The second key milestone came in Q1 2026 with the launch of a Base Mini-App, which drove significant user engagement and led to a high-stakes partnership contract in Q2. In August 2026, City Protocol raised an additional $4 million in a pre-A round, bringing total funding to $11 million, with participation from Dragonfly, Jump Crypto, CMT Digital, and others. The flagship product Venzo, a strategy vault platform, reached approximately $30 million in TVL, covering quantitative hedging, cross-exchange arbitrage, private credit, and on-chain yield strategies. These milestones mark the transition from a niche launchpad to an institutional-grade on-chain structured products infrastructure.
Key progress in the past six months (2026-03-04 to 2026-09-04):
- Completed Zenith audit of venzo-contracts and $CP contract on Base (June 18–25, report released June 29).
- Launched Polis Points Season 1 (July 21 – August 31) for structured product vaults.
- Launched Affinity Quant Credit vault on August 14.
- Reported total vault TVL of $30 million on August 24.
- Announced cumulative seed and Pre-A funding of $11 million on August 26, with investors including Dragonfly, Jump Crypto, CMT Digital, Stratified Capital, Adaverse, and Mirana.
Future focus and roadmap:
- Launch thematic vaults (persona tracking and sector themes) with smart-contract execution of basket purchases/adjustments.
- Continue CP token distribution and ecosystem expansion, with early allocation details already outlined.
- Expand NaaS (Network-as-a-Service) integration for wallets and exchanges to embed the same products.
City Protocol's founding team is led by Jerome Wong, Founder, with Kyle serving as Co-Founder.
Jerome Wong is the Founder of City Protocol. He is also the Co-Founder and Chief Business Officer of Everest Ventures Group (EVG), a Web3 venture building firm, and Co-Founding Partner of Adaverse, an Africa-focused VC and accelerator. He has served as an Investor and Venture Partner Advisor at Animoca Brands, and as an Advisor to Aspen Digital and BlockTempo. Jerome previously worked as an Investment Banking Analyst at HSBC. He holds a B.A. in International Politics with a minor in Psychology from Peking University.
Co-Founder Kyle has no reliable public profile information available.