Solana-based DeFi startup Delta One raises $9.1m to build 'set-and-forget' yield farming protocol
Delta One, a Solana-based DeFi protocol, announced it raised $9.1 million seed round led by Alameda Research and Ship Capital, with participation from Solana Ventures, Raj Gokal, Electric Capital, AlleyCorp, Chris McCann, Joe McCann, and Alfred Chuang. The funding round will help support Delta One's core development and ecosystem growth for projects looking to integrate with the protocol.
The Delta One protocol packages complex yield generation strategies into user-friendly structured products. Its automated delta-neutral strategies require little to no active management, while offering attractive risk-adjusted yield to users. The protocol has amassed a waitlist of over 100,000 participants since its inception at the Solana Ignition Hackathon in October 2021.
DJ Sengh, Co-founder, Delta One: "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. We believe democratizing these strategies through structured products will be a pivotal part of onboarding the first billion users into DeFi."
Delta One is working with upcoming teams to build new lending markets, reserve currencies, and novel options products like power perpetuals that compose on top of the existing vaults. While its mandate is to democratize yield, Delta One works closely with institutional funds to build sustainable strategies that support immense amounts of liquidity.
Brian Lee, Partner, FTX Ventures: "In TradFi, these strategies remain exclusive to large funds with professional traders, but decentralized products like Delta One aim to let everyone participate."
Delta One started initially as a hackathon project that solved a pain point for the founders, and has since grown into one of the most anticipated DeFi projects on Solana.
Raj Gokal, Co-founder, Solana: "We are excited to be users of Delta One, as they build cutting-edge tools and foundational new markets for DeFi."
Interviews.
[Interview] Caroline Mutuku, General Manager, Glovo, Kenya
Caroline Mutuku is Kenya's General Manager of multi-category app Glovo. Caroline joined Glovo in December 2022 from Swvl Kenya where she also served as the General Manager from December 2021. In this interview...read more here
[Interview] Renate Swanepoel, COO, INC. Networking
Renate Swanepoel is an entrepreneur, global networker and inspirational speaker that has helped thousands of people around the world to find their purpose. She has gained significant networking and communication...read more here
[Interview] Anne-Marie Chidzero, Chief Investment Officer, FSD Africa
Anne-Marie Chidzero is the Chief Investment Officer at the Financial Sector Deepening Africa (FSD Africa) Investments. In this interview, she talks about the risks and opportunities in backing Africa’s early-stage startups...read more here
[Interview] James Kilpatrick, Chair, Gravitilab, UK
Gravitilab is a "Space as a Service" business providing research, testing and qualification facilities to space agencies, government, academia and commercial enterprises. The company’s Chair and Chief Finance Officer...read more here
[Interview] Ramanjeet Singh, CEO, Woosper, USA
Woosper is a US-based digital advertising and marketing agency focused on creating experiences that help clients discover their place in the digital world. The CEO Ramanjeet Singh...read more here