TechFlow News, April 19 — Delta One, a decentralized finance (DeFi) protocol built on Solana, has raised $9.1 million in seed funding led by Alameda Research and DeFi developer collective Ship Capital. Other participants in the round include Solana Ventures, Solana co-founder Raj Gokal, investment firms Electric Capital and Alley Corp, as well as Chris McCann and Alfred Chuang, co-founders of Race Capital. The funds will be used for core protocol development and ecosystem expansion.
Delta One was founded in October 2021 by brothers Paul and DJ Sengh during the Solana Ignition Hackathon. The Delta One protocol offers users an automated, low-risk way to earn yield by investing in baskets of crypto options—derivatives that give buyers the right, but not the obligation, to buy or sell an underlying asset at a predetermined price on a specified date.
