GCR

Solana-based lending platform to unveil flagship cross-margin leveraged yield farming products

Apricot Finance, a Solana-based DeFi service provider, is excited to announce the closing of a $4 million financing round.

We are grateful to have the support from our outstanding investors and advisors include Delphi Ventures, Lemniscap, Solana Capital, Komorebi DAO, SkyVision Capital, Advanced Blockchain AG, Bixin, CryptoJ, Ledger Prime, Struck Capital Crypto, Valhalla Capital, a41 Ventures, MXC, Gate, GSR, Solar Eco Fund, Coinsight Ventures, Global Coin Ventures, Smrti Lab, Darren Lau, Zhuoxun Yin, Jeff Kuan (Terra), Matt Cantieri (Anchor Protocol), Nick Tong (Perpetual Protocol) and others.

The new funding builds on Apricot’s previous raise in June. Apricot Finance also took first place in the East Asia category of this year’s Solana Season Hackathon, facing a crowded field with more than 350 competing teams in the areas of DeFi, NFT, and Web3.

Apricot intends to use the newly raised capital to support the roll-out of our initial flagship services — Apricot Lend, X-Farm, and Apricot Assist — in the coming weeks. The first suite of products will provide users integrated lending services with cross-margin leveraged yield farming and automated self-deleveraging features.

With the support from our investors, advisors, and community, we aim to further expand into our DeFi suites of solutions, including innovative liquidation solutions and bad debt processing in the near future.

The entire Apricot team is extremely excited to bring on such a diverse and impressive army of investors and advisors to help create the next-generation experience for DeFi users. As the Solana ecosystem grows at an incredible speed, Apricot cannot wait to contribute to the community with our latest money market innovations.

Delphi Ventures:

The Apricot Finance team is dedicated, innovative and a pleasure to work with. Their novel money market protocol is a pioneer in the emerging Solana Ecosystem, with a novel self-deleveraging mechanism and leveraged yield farming capabilities. We are thrilled to support the team as they build out the future of DeFi.

Lemniscap:

Apricot’s focus on usability and composability together with their rapid delivery pace positions them at the forefront of the lending protocols landscape. We are continuously impressed by the team’s deep understanding of the market demand, their ability to match this in product design, and the clarity of their vision for the future. We are excited to welcome Apricot in the Lemniscap family and we look forward to continuing working closely with the team going forward.

Komorebi DAO:

Apricot is building DeFi lending from the bottom up and they stand out against the sea of SPL forks on Solana. The team is not only building to become the top money market on Solana, but it’s clear they’re trying to be the best across the whole ecosystem. Komorebi is proud to back teams like them.

Advanced Blockchain AG:

Advanced Blockchain is super impressed with the team at Apricot. It was clear from the beginning that they are a high output team relentlessly focused on providing a unique product offering to the Solana ecosystem.

Valhalla Capital:

We are excited to partner with Apricot, built ground-up with next generation risk management tools with the user in mind. As the lending space matures on Solana and beyond, we believe the innovations from this team will set a new standard in safety, reliability, and capital efficiency across the industry.

SkyVision Capital:

With the growth of DeFi, Apricot Finance aims to further democratize financial access. Being a lending protocol on the Solana ecosystem, it enables peer-to-peer lending and borrowing to help users improve capital efficiency. SkyVision has strategically collaborated with the strong technical team at Apricot as we have been astounded with their forward thinking, exciting roadmap and numerous innovative ideas they have in store!

About us: Apricot Finance is a next-generation lending protocol on Solana that offers first-in-market cross-margin leveraged yield farming and automated self-deleveraging mechanism that enables users to maximize returns while staying downside protected. In the future, Apricot plans to tap the concept of securitization in traditional finance to explore sustainable solutions for bad debt processing.