This Thursday, it was announced that Spout closed a $2 million funding round with backing from firms such as Draper Dragon, Anchorage Digital, Flow Traders, and Solana Labs. As detailed by its co-founder and CEO, Marc Ryan, the project aims to eliminate high traditional margin rates by allowing investors to access 0% interest loans backed by tokenized stocks within the Solana network.
The innovation lies in replacing direct interest with the systematic sale of out-of-the-money covered call options on the shares deposited as collateral. These weekly premiums fund yields for institutional and retail lenders without requiring the borrower to pay interest, democratizing a credit and liquidity structure historically exclusive to prime brokerage services.
Currently operational on the Solana devnet with plans to support eleven initial high-liquidity assets, the team is finalizing external security audits of its smart contracts prior to the launch of its private beta phase.
Disclaimer: Crypto Economy Flash News are produced from official and public sources verified by our editorial team. Their purpose is to provide quick reports on relevant facts in the crypto and blockchain ecosystem. This information does not constitute financial advice or investment recommendations. We always recommend verifying each project’s official channels before making related decisions.
Be the first to comment