Key Takeaways
- • Hylo, a Solana-based leveraged token and stablecoin yield protocol, closed a $1 million strategic round led by Solana Ventures, with participation from Colosseum and angel investors, according to the protocol's announcement reported by CryptoRank.
- • Valuation and deal structure were not disclosed; this is Solana Ventures' second investment in Hylo and Colosseum's third.
- • Hylo reports more than $1.7 billion in cumulative onchain volume, nearly $3 million in revenue, more than $2 million distributed in yield to users, and 30,000 monthly active users.
- • The protocol plans to expand leveraged tokens from 3x crypto exposure into yield-bearing assets, equities and commodities, with its hyUSD stablecoin at the core.
Summary
Hylo closed a $1 million strategic funding round led by Solana Ventures, with participation from Colosseum, the protocol announced, as reported by CryptoRank. The round marks Solana Ventures' second investment in Hylo and Colosseum's third. Valuation and deal structure were not disclosed.
Angel investors in the round included Helius co-founder and CEO Mert, Jupiter COO Kash Dhanda and SwissBorg CTO Nicolas Remond. Temporal co-founder cavemanloverboy, Temporal core developer dreamsin_3d and DPPP Agency founder drpeepee also participated.
Hylo builds leveraged tokens and stablecoin yield infrastructure on Solana. According to the protocol, its issued assets have recorded more than $1.7 billion in cumulative onchain volume, generated nearly $3 million in revenue and distributed more than $2 million in yield to users. It reported 30,000 monthly active users.
The protocol plans to broaden its leveraged token offerings from 3x crypto exposure into yield-bearing assets, equities and commodities, with hyUSD and its yield infrastructure at the core. Hylo is also hiring for business development and marketing growth roles.
Angel investors in the round included Helius co-founder and CEO Mert, Jupiter COO Kash Dhanda and SwissBorg CTO Nicolas Remond. Temporal co-founder cavemanloverboy, Temporal core developer dreamsin_3d and DPPP Agency founder drpeepee also participated.
Hylo builds leveraged tokens and stablecoin yield infrastructure on Solana. According to the protocol, its issued assets have recorded more than $1.7 billion in cumulative onchain volume, generated nearly $3 million in revenue and distributed more than $2 million in yield to users. It reported 30,000 monthly active users.
The protocol plans to broaden its leveraged token offerings from 3x crypto exposure into yield-bearing assets, equities and commodities, with hyUSD and its yield infrastructure at the core. Hylo is also hiring for business development and marketing growth roles.
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