Delta One Raises $9.1 Million to build DeFi's first 'set-and-forget' yield farming protocol

SAN FRANCISCO, April 19, 2022 /PRNewswire/ -- Delta One, a Solana-based DeFi protocol, today announced it raised a $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.

"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," said DJ Sengh, Co-Founder of Delta One. "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.

"In TradFi, these strategies remain exclusive to large funds with professional traders, but decentralized products like Delta One aim to let everyone participate," said Brian Lee, Partner at FTX Ventures.

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.

"We are excited to be users of Delta One, as they build cutting-edge tools and foundational new markets for DeFi," said Raj Gokal, Co-Founder of Solana.

To learn more about Delta One and its upcoming developments, visit: https://www.deltaone.xyz/

About Delta One
Delta One is a yield generation protocol on Solana that offers novel delta-neutral and impermanent loss free farming markets. Its mission is to create novel, easy-to-use DeFi primitives that democratize the best risk-adjusted yield opportunities to achieve mass adoption of crypto investing.

SOURCE Delta One