Texture Focused on Maximizing Yield Farm Yields in Solana Raises $5M in Fundraising Round – CoinCheckup Blog

Key Highlights:

• Texture, the Solana-based DeFi platform, has raised $5 million in its latest fundraising round.
• Texture focuses on maximizing $SOL player returns by leveraging the best return 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 co-administered by Sino Global and P2P Capital. Texture develops yield-maximizing solutions for DeFi users and will use the funds raised to accelerate the development of its services.

Texture is focused on yield management across key Solana-based yield sources and will soon introduce yield generation and configuration solutions that are still under development. The platform, which has also created a pool of strategies categorized by return and risk type, will use an algorithmic leverage strategy to allow investors to earn more returns from their $SOL bet positions. The name of this strategy was set as SOL Power Yield Strategy.

Texture’s leveraged staking protocol is a strategy that allows users to achieve maximum returns with minimal risk of liquidation. Texture automates this strategy by integrating Lido for liquid staking, Solend’s main pool for depositing stSOL, and lending SOL and Orca for exchanging harvested rewards to automate compounding. The smart contracts developed by Texture will dynamically monitor the pool’s LTV, rebalance the LTV as needed and apply algorithmic risk management strategies to minimize liquidation risk. In this way, depending on the risk level chosen, users earn high APY returns with SOL coins.

Quotes from managers

“We are delighted to have the support of such an amazing group of institutional and angel investors, many of whom have been actively building in this space for years and are therefore well versed in the challenges and intricacies of DeFi. With this round, Texture is now well funded and has a runway to build and scale over the next few years. Next stop – beta launch at Breakpoint 2022 and full launch shortly after!”

Oleg Ravnushkin, the co-founder of Per Texture

“P2P is excited to support the Texture team in their quest to bring better yielding products to the Solana community, and we look forward to potential collaborations in the future.”

Konstantin Lomashuk, founder of P2P

“We’re excited to support Texture and develop algorithmic strategies that deploy capital across multiple protocols to optimize user returns. We look forward to 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

Texture optimizes and maximizes returns by supporting multiple DeFi protocols in Solana and configures users’ cryptos into smart return pools. The smart contracts in the Texture protocol perform rebalancing and algorithmic risk management, leveraging optimal yield-growing opportunities for users.

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