Axis Secures $5 Million from Galaxy Ventures

Axis secured $5 million in funding led by Galaxy Ventures to advance its on-chain yield protocol. The funding will support USD and Bitcoin yield products, with future gold assets planned, demonstrating strong investor confidence and market interest.

Axis completed a successful $5 million funding round aimed at scaling its innovative on-chain yield protocol. Galaxy Ventures led the investment, with high participation from notable financial players, underscoring the protocol’s appeal.

The protocol will initially focus on USD and Bitcoin assets, backed by prominent investors like OKX Ventures and FalconX. The team’s expertise and delta-neutral framework were praised by Will Nuelle, emphasizing a secure approach to yield generation.

Axis’s $100 million capital deployment during its closed beta phase showcased promising results, achieving strong risk-adjusted returns. This indicates a positive trajectory for its main product, USDx.

Axis aims to operate on the Plasma blockchain, supported by Bitfinex, to enhance cost efficiencies and integrate high-level security measures such as Chainlink proof-of-reserve and Veda custody.

The ongoing institutional interest and significant funding reflect Axis’s potential to transform the yield protocol space. The participation of industry leaders signifies trust in Axis’s strategy and suggests a trend towards diversified, blockchain-based asset management.

With the integration of diverse assets like Bitcoin and potential gold-backed instruments, Axis’s approach mirrors the evolving landscape where DeFi meets traditional finance principles. Such developments indicate Axis is well-placed to leverage institutional demands and broaden multi-chain asset offering frameworks.