RateX, a Solana-based yield trading protocol, has raised $10.4 million across three funding rounds over the past two years, including a recently completed $7 million strategic round. The latest raise includes participation from Animoca Ventures, ECHO, GSR, Crypto.com Capital, Gate, Rzong Capital, BGX Capital, and Summer Capital.
RateX enables users to access high-leverage, liquidation-free farming and fixed-income products by separating principal and yield through advanced tokenization mechanisms. This architecture allows traders, farmers, and institutions to manage and trade yield with capital efficiency.
With the launch of RateX V2, codenamed Mooncake, the team is introducing Leverage Tokenization. Mooncake enables a permissionless, liquidation-free leveraged token market, expanding the protocol’s existing yield infrastructure into a fully composable leverage ecosystem. By turning leverage positions themselves into tradable tokens, RateX removes the reliance on traditional lending markets and eliminates the risks associated with liquidations, unlocking:
- USD-denominated funding yield tokens;
- Liquidation-free leveraged tokens;
- Completely on-chain, programmatic leverage markets; and
- Composability with any DeFi protocol on Solana.
By making leverage tradable, programmable, and openly accessible, RateX addresses what has historically been a complex backend mechanism into an on-chain asset layer.
In June, DeFi Development Corp., the first U.S. public company to deploy a treasury strategy focused on accumulating and compounding Solana (SOL), announced a strategic integration with RateX. Through this integration, dfdvSOL, the company’s adopted liquid staking token (LST), gained full access to RateX’s margin-based yield ecosystem, enabling enhanced capital efficiency and expanded yield opportunities across the Solana DeFi landscape.
RateX’s long-term vision is to become the universal structured finance layer for all on-chain markets, powering fixed income products, yield strategies, leveraged products, and institutional-grade structured instruments through transparent, verifiable primitives.
“Sincere thanks to our investor base for supporting this vision to build the foundational layer for all structured finance on-chain,” said Sean Hu, founder of RatelinkX. “With the launch of Mooncake, we’re unlocking a new era of scalable, permissionless yield and leverage markets, built natively for the Solana ecosystem.”
