Quick Take
- Spout raised a $2 million strategic round with participation from Draper Dragon, Anchorage Digital and Flow Traders, alongside strategic backing from Solana Labs.
- The protocol funds lender yield through covered-call premiums on pledged equities rather than borrower interest; it remains on Solana Devnet.
Spout, a Solana-based lending protocol for tokenized US equities, announced a $2 million strategic round on Oct. 15. Participants included Draper Dragon, Anchorage Digital, Flow Traders, Taisu Ventures, Vessel Capital and Solayer, with strategic backing from Solana Labs. No lead investor or valuation was disclosed.
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Angel investors included Solana Labs co-founders Anatoly Yakovenko and Raj Gokal, Injective co-founder and CEO Eric Chen, Superstate co-founder Dean Swennumson and former CFTC Chairman J. Christopher Giancarlo. Giancarlo also serves as Spout’s regulatory and policy advisor.
Spout is designed to let users pledge tokenized US equities and borrow USDC at a flat 50% loan-to-value ratio without paying interest. Instead, the protocol writes weekly far-out-of-the-money covered calls against the collateral, using the options premiums to pay lenders rather than charging borrowers a rate spread.
The protocol is not yet on mainnet; its beta runs on Solana Devnet, with a private beta planned. Spout said the funding will support team expansion and development of a credit layer that issuers, exchanges and wallets can integrate.
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