texture, the decentralized finance (DeFi) running on the Solana blockchain has raised $5 million in a funding round with collaboration from heavyweights from both traditional finance and the digital ecosystem.

according to a cheep For the platform, investment firm P2P Capital and Sino Global Capital co-led the funding session. Other notable investors in the Texture fundraiser include Semantic Ventures, Wintermute, and Jane Street Capital, among others. Although the valuation of the funds was not disclosed, the funds were raised in the USDC stablecoin with the goal of creating performance management tools.

Interestingly, the fundraising made the platform active in private beta testing. Users who intend to stake their SOL tokens will enjoy increased earnings of up to 15% and will be able to stake via a one-click solution.

Following the completion of an audit, likely to be at the end of the year, Texture will be opened to the general public. The platform does not work alone as it uses various other platforms to achieve its goal. Some of these include Lido Finance, which helps in the main element of liquid participation, and Solend, which helps in lending and borrowing, among others.

Aiming to make DeFi returns easy and accessible to everyone, Texture has made several plans to carry out structuring solutions for DeFi investors. Similarly, the plans include several groups of strategies called Texture’s “SOL Energy Performance Strategy” Group. The group will make use of an algorithm-based staking strategy to help investors get more out of their Solana holdings.

In related news, despite the prolonged crypto winter, Binance has invested heavily in the DeFi space. According to the exchange’s CEO, Changpeng Zhao, he planned to spend more than $1 billion on potential investments. He invested $325 million in 67 projects including Aptos.

Additionally, UK-based DeFi company AQRU Plc. Aiming to effectively manage clients’ risk, BlockLender recently launched to provide cryptocurrency-backed lending services. Unlike other companies, BlockLender operates a unique model that allows it to invest user collateral in smart contracts with DeFi protocols developed to generate returns that finance the underlying loans.

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