Texture, a DeFi platform, recently organized an investment round. Texture received a total of $5 million in funding in the round managed in partnership with P2P Capital and Sino Global. In addition, participants in the round included Wintermute, Semantic Ventures and Jane Street Capital. The funds were collected as USDC stablecoin.
Texture is a DeFi platform that runs on the blockchain. Its first product provides high efficiency to users who want to stake their SOL tokens. To achieve this, they use a leveraged staking strategy. Just like the Interest Compounding ETH Index (icETH) and the ETH Max Yield Index (ETHMAXY) in Ethereum.
“We are excited to bring automated leveraged staking to Solana through a one-click solution. This is a fundamentally DeFi-native product that appeals to users who value higher real yield as much as transparent on-chain execution and risk management,” said Texture Co-founder Oleg Ravnushkin.
Texture aims to provide up to 15% return to its users who want to SOL stake, but it also uses several platforms to make this happen. As an example, they use Lido Finance for the core liquid staking element. In addition, Solend, which was hacked on November 2 for $ 1.26 million, uses it for lending and borrowing, and Orca for compound rewards.
Texture is expected to open to the public by the end of the year once the audit is completed.
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