Delta One, a San Francisco, CA-based provider of a Solana-based DeFi protocol, raised $9.1M in Seed funding.
The round was 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 company intends to use the funds to help support of core development and ecosystem growth for projects looking to integrate with the protocol.
Led by DJ Sengh, Co-Founder, Delta One is a yield generation protocol on Solana that 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.
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.