DeFi yield platform Texture has raised $5 million in a round co-led by P2P Capital and Sino Global, and is now live in private beta testing. The funding is led by prominent investors such as P2P Capital and Sino Global. Others include Wintermute, Semantic Ventures, and Jane Street Capital.

“We are excited to receive backing from such an amazing group of both institutional and angel investors, many of whom have been actively building in the space for years, so are very familiar with the challenges and intricacies of DeFi,” said Texture’s co-founder Oleg Ravnushkin.

He added that as this round is well-funded, Texture now has a runway to develop and scale over the next couple of years. “Next stop – beta launch at Breakpoint 2022 and full launch soon after!”

Texture is a DeFi platform running on the Solana blockchain. Its first product provides higher yields to those looking to stake their SOL tokens. It is using a leveraged staking strategy to achieve this, similar to tokens on Ethereum like the Interest Compounding ETH Index (icETH) and the ETH Max Yield Index (ETHMAXY).

Texture’s team are profound believers in the benefits that crypto and DeFi can bring to the world, and that Solana - due to its inherent characteristics - is well suited to be one of the driving forces of crypto adoption. Texture sees that its Mission is to:

Support the development and growth of the Solana ecosystem

Facilitate community driven DeFi

Promote easy access to sustainable DeFi yields

Attract new users into crypto and into Solana specifically

All ultimately to accelerate the pace of crypto adoption

Texture plans to accomplish its Mission by adhering to its philosophy of:

Easy-to-Use DeFi: building sophisticated products which are easy to use and to understand, both for DeFi experts and newbies, making complex products simple all with a clear and intuitive UI/UX.

Transparency: clear communication of the products’ mechanics and risks involved are instrumental to earn the trust of the community. Check out our Twitter where we’ll be sharing insights on our thought process, challenges faced and how they have been overcome, maths behind the strategies and features ensuring security of our users’ funds.

Risk Management: Texture is here for the long game, meaning while we want to offer highest possible yields to our users, these have to be delivered via robust smart contracts able to endure times of high volatility and corner case scenarios, with appropriate safeguard mechanics in place. Texture’s smart contracts are rigorously tested by its dev team and audited by leading blockchain auditors before mainnet launch.