Key highlights:
- Texture, the Solana-based DeFi platform, has raised $5 million in its latest fundraising round.
- Texture focuses on maximizing the returns of $SOL stakers by taking advantage of the best returns opportunities of multiple Solana-based DeFi protocols.
- Texture, which will launch a product called SOL Power Yield Strategy, will offer leveraged staking in smart yield pools.
Texture, a DeFi platform running on the Solana blockchain, has raised 5 million USDC in its latest fundraising round. Semantic Ventures, Wintermute and Jane Street Capital participated in the investment round, jointly managed by Sino Global and P2P Capital. Developing return maximizing solutions for DeFi users, Texture will use the collected funds to accelerate the development of its services.
Focusing on yield management across the top Solana-based yield sources, Texture will soon launch yield generation and configuration solutions that are still in development. The platform, which has also created a pool of strategies categorized by return and risk type, will use an algorithmic leverage strategy for investors to get more returns from their $SOL stake positions. The name of this strategy was determined as SOL Power Yield Strategy.
Texture’s leveraged staking protocol is a strategy where users can achieve maximum returns with minimum liquidation risk. Texture automates this strategy by integrating Lido for liquid staking, Solend’s main pool for depositing stSOL and borrowing SOL and Orca for swapping harvested rewards to automate compounding. The smart contracts that Texture has developed will dynamically monitor the pool’s LTV, rebalancing LTV as needed, and applying algorithmic risk management strategies to minimize the risk of liquidation. In this way, users will earn high APY returns from SOL coins depending on the risk level they choose.
Quotes from Managers
“We are excited to receive backing from such an amazing group of both institutional and angel investors, many of whom have been actively building in the space for years, so are very familiar with the challenges and intricacies of DeFi. With this round, Texture is now well-funded and has runway to build and scale over the next couple of years. Next stop – beta launch at Breakpoint 2022 and full launch soon after!”
Oleg Ravnushkin, the co-founder of Per Texture
“P2P is excited to support the Texture team on a quest to provide better yield products to the Solana community, we are looking forward to potential collaborations in the future.”
Konstantin Lomashuk, Founder of P2P
“We’re delighted to back Texture, developing algorithmic strategies that deploy capital across multiple protocols to optimize yield for users. We’re excited for their first product – leveraged SOL staking with algorithmic risk management and rebalancing.”
Thomas Tang, Vice President of Investments at Sino Global Capital
More About Texture
Optimizing and maximizing returns by supporting multiple DeFi protocols in Solana, Texture configures users’ cryptos in smart return pools. The smart contracts in the Texture protocol perform rebalancing and algorithmic risk management, utilizing optimal yield farming opportunities for users.
