Polychain Says Ex-Partner Made Undisclosed Token Deal with Eclipse Labs

Polychain Capital said its former general partner, Niraj Pant, had violated company policies by securing an undisclosed token deal with Eclipse Labs, a startup in which Polychain had invested. Pant allegedly arranged to receive a 5% token stake, later reduced to 1.3%, worth $13 million, shortly after leading Polychain’s $6 million pre-seed funding round for Eclipse Labs. The $13 million number is based on Ecplispe’s latest funding round, which valued the token at a fully diluted value (FDV) of $1 billion, according to CoinDesk.

The deal was made with Neel Somani of Eclipse Labs. This incident highlights ongoing concerns within the crypto industry regarding undisclosed advisory roles and token deals. Additionally, Polychain also invests in Pant's AI startup.

[This article was corrected on May 15, 2026)

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