[DigitalToday reporter Chi-gyu Hwang] Exponent Finance, a Solana-based yield exchange, has raised $5 million in seed funding.
A recent report by The Block said the round was led by Multicoin Capital, with participation from Solana Ventures, RockawayX, L1D, Prelude and Theia Blockchain.
Solana Labs CEO Anatoly Yakovenko (아나톨리 야코벤코) and Solana Foundation head of institutional growth Nick Ducoff (닉 두코프) also joined as individual investors. The investment used a structure combining a simple agreement for future equity (SAFE) with token warrants.
Exponent plans to release an updated version of its platform in May and expand its yield exchange into active yield management infrastructure across Solana.
It will introduce 2 core functions.
One is a fully onchain rate order book that supports converting floating yield exposure, such as staking or lending positions, into fixed-rate or leveraged positions. The other is a Strategy Vault for users who do not want active management. Asset managers can package rate strategies such as fixed-rate looping or hedging and provide them to users.
Chi-gyu Hwang
delight@d-today.co.kr