Deus X Capital today launched decentralized finance business Solstice Labs.
The company’s first project will be a protocol that offers all investors enhanced yield opportunities.
The protocol will be built on the Solana ecosystem and is expected to go live in early 2025.
Deus X Capital, the $1 billion investment and operating company led by Tim Grant, today launched Solstice Labs, a decentralized finance (DeFi) business, the company said in a press release on Friday.
Solstice Labs is building institutional-grade DeFi products and protocols that will be available to all investors, the company said.
The business’ first project is a protocol that offers enhanced yield opportunities, and is expected to go live in early 2025, Deus X said.
It aims to deliver stable and consistent yields for investors, Ben Nadareski, co-founder and CEO of Solstice Labs, told CoinDesk in an interview, and in a democratized fashion, as all users will have the same access to this yield generating opportunity on the Solstice protocol.
The protocol will be developed on the Solana blockchain, and is expected to launch with more than $100 million of total value locked (TVL), with significant investment from Deus X Capital.
Nadareski, who is currently an investment director at Deus X Capital, is co-founder and CEO of Solstice Labs. Tim Grant, CEO of Deus X Capital will be co-founder and chairman of the company. Stuart Connolly, chief investment officer at Deus X and CEO of Alpha Lab 40, is to join the firm as chief investment officer and co-founder.
“Many DeFi products and protocols have been built using exceptional technology stacks like we have seen with Solana but have largely been overlooked for institutional applications,” said Nadareski, in the release.
“This presents a huge opportunity to introduce institutional-grade yield-opportunities and infrastructure into DeFi which will allow for a far broader range of investment participation,” he added.
Solstice Labs will work closely with Cor Prime, a prime broker, and Alpha Lab 40, a proprietary trading firm, both of which are portfolio companies of Deus X Capital.
Cor Prime launched on Wednesday with a $100 million commitment of risk capital from Deus X Capital, and the company plans to address the supply/demand imbalance for leverage in the crypto market.
Deus X Capital launched in October last year with $1 billion of assets, including existing investments and capital to be deployed.