Solana’s DeFi Platform Texture Raises $5 Million

The DeFi yield platform Texture is now live in private beta testing after raising $5 million in a round co-led by P2P Capital and Sino Global.

Wintermute, Semantic Ventures, and Jane Street Capital are among the other participants in the round of funding. The stablecoin USDC was used to raise funds, and the valuation was kept confidential.

DeFi platform Texture utilizes the Solana blockchain. When using its first product, consumers wishing to stake their SOL tokens should expect larger yields. In order to do this, it employs a leveraged staking technique, much like Ethereum tokens like the Interest Compounding ETH Index (icETH) and the ETH Max Yield Index (ETHMAXY). 

The platform plans to provide investors wishing to stake their SOL with a yield of up to 15%.

Several platforms are used by Texture to accomplish this. Lido Finance is used for the main liquid staking component, Solend is used for lending and borrowing, and Orca is used to compound the payouts.

The public will be able to access Texture whenever an audit is finished, which may occur before the end of the year.

Texture Co-founder Oleg Ravnushkin said:

“We are excited to bring automated leveraged staking to Solana through a one-click solution. This is a fundamentally DeFi-native product that appeals to users who value higher real yield as much as transparent on-chain execution and risk management.”

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