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Solana-based protocol Delta One raises 9.1 million to develop its yield product

Delta One is a Solana-based Decentralised Finance (DeFi) protocol that generates yield. It has raised $9.1 Million in a seed round to help it expand its ecosystem. The round was led Alameda Research and Ship Capital. Delta One attracted investment from Solana Ventures and Raj Gokal, co-founders of Solana Ventures. Also, investment firm Electric Capital…

Delta One is a Solana-based Decentralised Finance (DeFi) protocol that generates yield. It has raised $9.1 Million in a seed round to help it expand its ecosystem.

The round was led Alameda Research and Ship Capital. Delta One attracted investment from Solana Ventures and Raj Gokal, co-founders of Solana Ventures. Also, investment firm Electric Capital as well as early stage venture fund AlleyCorp.

Alfred Chuang and Chris McCann were also invited to participate, as they are co-founders at Race Capital.

Delta One eyes ecosystem growth

According to Delta One, this funding round will help its team manage the protocol’s core development. The platform is also looking to expand its ecosystem, with the primary focus on the integration of projects that target Delta One’s product offerings.

The team will also work to develop user-friendly structured products. It seeks to have its automated yield farming strategy “delta neutral” available to over 100,000 participants on a waitlist going back to October 2021.

The delta-neutral yield generation strategy generates high-risk-adjusted yield with almost no active management on the user’s part. This strategy allows users to save hours of tedious work “crunch numbers and track .”

positions”.

Delta-neutral farming is a technique that many hedge funds love to use, but it can require spending hours each day crunching numbers and tracking positions when done manually by retail investors,” said DJ Sengh, co-founder of Delta One.

It is a protocol offering Delta One hopes will be the foundation for further expansion of the DeFi ecosystem.

We believe that democratizing these strategies via structured products will be a key part of onboarding billions of users into DeFi ,” Sengh et al.

As part its expansion, Delta One plans to partner with other projects in ventures related to lending markets and reserve currencies. It is also looking to partner with other projects that can help build sustainable liquidity.

Delta One has grown tremendously over the past year. It was launched in 2021 during the Solana Ignition Hackathon. It is now one of the most anticipated projects in Solana.

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