Hylo Raises $1 Million in Strategic Round Led by Solana Ventures

Hylo has completed a $1 million strategic round led by Solana Ventures as it plans 3x leveraged-token products tied to yield-bearing assets, equities and commodities on Solana.

Colosseum joined the financing, along with Helius co-founder and CEO Mert Mumtaz and Jupiter Chief Operating Officer Kash Dhanda. The round marks Solana Ventures’ second investment in Hylo and Colosseum’s third.

Hylo develops leveraged tokens and hyUSD, a decentralized stablecoin on Solana. Its planned expansion would add new asset categories to its 3x leveraged-token lineup. Hylo also plans to continue building yield and leverage infrastructure around hyUSD.